A burned-out vehicle stands during the Camp Fire in Paradise, California, U.S., on Tuesday, Nov. 13, 2018. (Photo: David Paul Morris/Bloomberg)
PG&E Corp., the California utility giant that went bankrupt five months ago amid crippling wildfire liabilities, has reached a $1 billion settlement with local government agencies that were harmed by blazes its equipment ignited.
The deal between PG&E and 14 public entities includes a settlement for the town of Paradise, which was destroyed in November's Camp Fire — the deadliest in California history. The agreement doesn't affect lawsuits filed by individual homeowners and businesses against the San Francisco company, owner of California's largest utility, and it must be approved by the judge overseeing the bankruptcy case.
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