PG&E reached a compensation agreement with victims of forest fires

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PG&E Corp reached an agreement worth US $ 13.5 billion to address complaints of individuals related to forest fires in 2015, 2017 and 2018.
PG&E reached a compensation agreement with victims of forest fires
A big wildfire in California. Photo: reuters

Electricity company PG&E Corp (USA) said on December 6 that the company reached an agreement worth $ 13.5 billion to resolve complaints of individuals related to forest fires in 2015, 2017 and 2018.

In the final settlement agreement, PG&E has reached a settlement agreement with all groups of plaintiffs to request compensation for damages caused by forest fires, including the Committee of Plaintiffs (TCC) and businesses. on behalf of the individual plaintiffs.

According to Chief Executive Officer (CEO) Bill Johnson, the settlement agreement referred to above must comply with a series of conditions as well as the need for confirmation of the Bankruptcy Court of the United States .

Earlier, PG&E struck a $ 1 billion deal with cities, counties and other public entities and a $ 11 billion deal with insurance providers involved in fires in 2017 and 2018.

In January 2019, PG&E filed for bankruptcy protection under Article 11 of the US Bankruptcy Law after major California wildfires in 2017 and 2018, which are believed to have originated from incidents of fire and disconnection of power lines of this group.

Earlier, PG&E had proposed a compensation of $ 8.4 billion, but the victims disagree.

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