PG&E Agrees To $13.5 Billion Payout For California Fires
December 7, 2019
2:07 pm
California’s Pacific Gas and Electric will pay $13.5 billion to settle lawsuits over its role in a series of wildfires that killed scores of people and destroyed thousands of homes, the utility giant said Friday.
Faulty PG&E powerlines were blamed for sparking last year’s so-called Camp Fire in northern California — the deadliest in the state’s history — that left 86 people dead.
Outdated facilities including vulnerable wooden poles and failure to deforest land surrounding high-voltage transmission lines were blamed for the inferno, prompting accusations the San Francisco-based firm had put profit before safety.
The company filed for bankruptcy …
