PG&E

Deadline for Gov. Newsom to Approve PG&E's Wildfire Settlement

NBCUniversal, Inc.

Friday marks the deadline for California Gov. Gavin Newsom to give a thumbs up or thumbs down for PG&E's multi-billion dollar settlement with victims of recent wildfires.

If Newsom does not give his approval, PG&E will have to revise the settlement or the settlement will be terminated.

Last week, the utility announced it reached a $13.5 billion agreement with the victims of last year's Camp Fire in Butte County, the 2017 Tubbs Fire in the North Bay, the 2015 Butte Fire and the 2016 Ghost Ship warehouse fire in Oakland.

Last January, PG&E filed for bankruptcy because it was, at the time, expecting to face potential liabilities of $30 billion.

PG&E on Thursday announced that it filed an amended reorganization plan in its bankruptcy case, claiming that if all goes accordingly, it could be out of bankruptcy by next June.

The utility has changed its leadership and, in its words, made meaningful strides in wildfire safety.

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