The California power utility linked to fatal 2017 and 2018 wildfires is likely to pay more than $1.7bn in penalties for lack of equipment maintenance
The remains of homes destroyed by the Camp Fire in Paradise, California, the US, on November 11 2018. Picture: REUTERS/STEPHEN LAM
The bankrupt California utility has agreed to invest $50m in corrective measures. The rest of the settlement would involve money the company has already spent on maintenance and inspections that it would be barred from recovering from customers, said the people, who asked not to be identified because the information isn’t public.
PG&E said in a statement that it has been “actively engaged in settlement discussions” with the commission’s enforcement division and other parties over the past three months. The groups “require additional time to finalise the agreed-upon terms of the settlement”, the San Francisco-based power giant said. The utility commission didn’t respond to requests for comment.
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