Pacific Gas and Electric said Wednesday it’s reached agreements to resolve wildfire claims made by 18 local public entities (cities, counties, districts and public agencies) impacted by the 2015 Butte Fire, 2017 Northern California wildfires and 2018 Camp Fire.
Under the agreements, $1 billion in payments will be made as part of a Chapter 11 Plan of Reorganization (Por) to be filed in PG&E’s pending Chapter 11 bankruptcy case, Kallanish Energy reports.
“This is an important first step toward an orderly, fair and expeditious resolution of wildfire claims and a demonstration of our willingness to work collaboratively with stakeholders to achieve mutual acceptable resolutions,” said PG&E president and CEO Bill Johnson, in a statement.
The payment of the settlement funds is subject to Bankruptcy Court confirmation of, and the occurrence of the effective date under, the Por, which will provide for the payment of the settlement funds to the local government agencies.
The filing date of the Por with the Bankruptcy Court remains uncertain.
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