PG&E will pay $1 billion to settle California fire claims with local governments as part of its bankruptcy reorganization
FILE PHOTO: PG&E crew work on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage
Payments to the local governments will settle claims from lawsuits put on hold by PG&E’s bankruptcy and are separate from the thousands of individual claims stemming from wildfires that the company expects will be filed against it during the bankruptcy period. The local governments said in a filing in March that their claims could top more than $2.5 billion for fire-related damage to roads, bridges, sidewalks, road signs and signals, public landscaping and water systems.
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