SAN FRANCISCO (AP) – Pacific Gas & Electric Corp. has received approval to establish a $105 million fund to help survivors of recent California wildfires started by the utility’s power lines.
A federal judge overseeing PG&E’s bankruptcy case approved the utility’s “wildfire assistance program” Wednesday.
Lawyers for wildfire victims argued PG&E could pay up to $250 million to adequately help people who lost property during the huge fires in 2017 and 2018. They said that’s close to the $235 million the utility will pay in bonuses for its employees.
The judge said he was only authorized to approve or reject PG&E’s proposal. He said he wanted to see the fund up and running as quickly as possible.
PG&E filed for bankruptcy protection in January, saying it faced up to $30 billion in wildfire liabilities.
Copyright 2019 The Associated Press.