PG&E Plans to Create $11 Billion Fund to Settle Wildfire Claims

Just weeks after Pacific Gas & Electric (PG&E) had their $105 million assistance fund approved by the bankruptcy court to assist wildfire victims, the California utility company now plans to pool together $11 billion to settle claims from those affected from the fires. The wildfires that broke out in November 2018 in Paradise, CA and surrounding areas amounted to the deadliest in the state’s history—displacing thousands of families, taking 85 lives, and causing unsafe after-effects such as drinking water contamination. PG&E, the utility giant concluded to be responsible for the blaze according to officials, is planning to set up a financial vehicle that would redirect $400 million a year in earnings to establish a pool of $8 billion to settle 2017 and 2018 wildfire claims, plus an additional $3 billion earmarked for future claims. Importantly, the plan would not rely on assistance from the state, taxpayers, or PG&E customers.

 

If you and your family suffered damages during the Camp Fire, please contact one of our attorneys today at (866) 265-0874 for a free, confidential evaluation of your potential claim.

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