Camp Fire settlement reached

Pending final bankruptcy court approval, PG&E has agreed to pay fire victims $13.5 billion, according to a company press release. This includes payment to survivors of last year’s Camp Fire, the 2015 Butte Fire in Amador County, the 2017 Tubbs Fire in Santa Rosa and the 2016 Ghost Ship Fire in Oakland.

Approval of the settlement agreement would “put PG&E on a sustainable path forward” to emerge from Chapter 11 by June 30 of next year, PG&E said, in time to participate in the state’s $21 billion fund to help pay claims from future fires caused by its equipment. (This has been criticized for drawing financing from ratepayers.)