SAN FRANCISCO (AP) — Pacific Gas & Electric Co. has agreed to pay $70 million in restitution for the California pipeline explosion that killed eight people in 2010.

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PG&E and the city of San Bruno announced the settlement Monday in a joint statement. They say the money will be used to establish a nonprofit organization to help the community recover from the Sept. 9, 2010, blast that also destroyed 38 homes.

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The San Francisco-based utility previously set up a $100 million fund to support emergency needs in the aftermath of the explosion that destroyed more than three dozen homes in the San Francisco suburb.

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