
California Power Firm To Pay $1.7bn Over Wildfires
A California energy supplier has reached a nearly $1.7 billion settlement with regulators for its role in causing devastating wildfires in 2017 and 2018 that killed more than 100 people in total.
Faulty Pacific Gas and Electric power lines were blamed for sparking last year’s so-called Camp Fire in northern California, the deadliest in the state’s modern history.
Under the draft deal published Tuesday, PG&E shareholders will foot the bill for wildfire-related costs, as well as forest fire-fighting measures and the upkeep of electrical equipment blamed for causing several fatal blazes.
It cannot pass the costs on to ratepayers.
PG&E …