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California Fires: Energy Company Agrees to Pay $ 1 Billion For Damage



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The heavily damaged city of Paradise will receive some of the money

Pacific Gas & Electric Corp. (PG & E) has agreed to pay $ 1

billion to local authorities in California for damaging forest fires caused to the company.

The settlements will be paid to 14 different bodies as part of

The claims arise from the fires in 2015, the fires in 2017 and the northern gulfs in 2017, and the fire in 2018

a city that was destroyed in a fire in November, receives $ 270 million. ,

The campfire, which began in Bute County, took 85 lives – the most deadly in the history of the state.

California Fire Investigators said in May that the fire was caused by PG & E-owned transmission lines.

The District Attorney is considering possible charges in connection with the fire.

Media Reproduction Not Supported by Your Device 19659014] Media Title Restoration of Paradise: "Our City Is Missing"

The company based in San Francisco filed for bankruptcy in January 2019 , citing billions of dollars in litigation liabilities.

Announced on Tuesday settlements do not include hundreds of individual claims made by companies and homeowners.

Due to the reorganization of insolvency, all PG & E financial arrangements still have to be approved in court.

"We hope PG & E can go out of bankruptcy as soon as possible so that these funds can be paid," Pisch, a lawyer from a firm representing agencies, told Bloomberg

PG & E told the news agency Reuters says the settlement has marked an "important first step" for "organized, fair and expeditious resolution" of fire claims.


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