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Judge approves a $13.5 billion payment from PG&E to victims of California wildfires

Credit: Reuters Studio
Published on December 18, 2019 - Duration: 00:58s
Power lines from utility company ignited multiple deadly fires over recent years
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Judge approves a $13.5 billion payment from PG&E to victims of California wildfires

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NO USE ABC, CNN, FOX, UNIVISION, TELEMUNDO, BBC AMERICA, NBC, OR THEIR DIGITAL/MOBILE PLATFORMS. NO USE SACRAMENTO, CALIFORNIA MEDIA MARKET WEBSITES Victims from California's wildfires have been granted a $13.5 billion settlement from the Pacific, Gas and Electric company.

A U.S. bankruptcy judge approved the plan, which includes cash and PG&E stock for a trust to benefit individual wildfire victims. There's an additional $11 billion for insurance companies.

PG&E's power lines ignited several deadly wildfires, including last year's devastating 'Camp Fire'.

It sought bankruptcy protection from creditors in January, after legal claims involving 22 different fires.

Earlier this year, it cut off power to almost one million people across California, to guard against igniting any more fires.

State Governor Gavin Newsom says the utility company put profit before maintenance.

He wants a new board of directors and strong finances.

But his lawyer says he views this wildfire settlement as fair.

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