PG&E offers $13.5 billion to wildfire victims as Newsom pushes back on utility’s bankruptcy plan

Christine Kilpatrick
PG&E offers $13.5 billion to wildfire victims as Newsom pushes back on utility’s bankruptcy plan

PG&E Corp., wants to offer victims of wildfires set off by its power lines $13.5 billion. The payout, part of the bankrupt San Francisco-based utility’s restructuring plan, comes as Gov. Gavin Newsom threatens to step in with the state’s own reorganization plan. Citing people with knowledge of PG&E’s plan, Bloomberg reported that the $13.5 billion compensation plan for victims of wildfires in 2017 and 2018 is the same amount that a group of the power company’s creditors has agreed to pay victims in a competing reorganization plan.