PG&E makes $13.5 billion settlement with California wildfire victims

California based electricity producer PG&E stated that the company had reached a $13.5 billion agreement to solve claims by all those who were affected in the 2017, 2018 wildfires and the butte fire dating back to 2015. According to reports, PG&E stated that they had come to an agreement with all the significant groups such as the TCC(Official Committee of Tort Claimants) and with law firms representing individual claimants.

$13.5 billion agreement

CEO of Pacific Gas and Electric company, Bill Johnson, said that after having achieved such a milestone, the focus of the company was to rise up to the expectations of both customers and communities. According to reports, the settlement between the company and claimants is subject to certain conditions and requires a green light from the United States Bankruptcy Court.

PG&E has previously reached a $1 billion settlement with claimants such as cities, public entities, and counties and also an $11 billion settlement with insurance companies in relation to the devastating 2017 and 2018 wildfires in the state of California.

Read: Duncan Hunter’s Exit Unsettles US House Race In California

PG&E 'did not think this through'

In previous instances, frustration and anger mounted among the people of North Carolina on October 29, which also happened to be the fourth consecutive day with no electricity after a wildfire broke out in the area. Caterer and Chef, Jane Sykes said she would have to throw away food worth $1,000 and lamented that the company, Pacific Gas & Electric 'did not think this through'.

The company reportedly had several rounds of talks before shutting down the electricity after one of its power lines malfunctioned at the same time and location where the fire was originated. This was also the third round of blackouts to protect the company's equipment from sparking wildfires due to high winds in the area leaving millions of people without power for several days.

Read: California Recovers $23M From Auto Parts Makers’ Bid Rigging

Corrective measures of the company

The company had reportedly turned off power to some customers across the region as a precaution after extreme winds and dry weather had raised the risk of wildfire. However, a utility spokeswoman told an international media that Edison had not de-energize any power for the Saddleridge fire area.

In Northern California, Utility Pacific Gas and Electric Co faced increasing criticism for its own wide-scale precautionary power shutdown and poorly managed communication between both the companies. The Public Utility Commission on October 14 ordered PG&E to undertake corrective actions. However, neither PG&E nor the commission said if the damaged tower or the malfunction of the transmission line were suspected of igniting the blaze.

Read: California Gov. Newsom To Campaign In Iowa For Kamala Harris

Read: Southern California School Reopens After Deadly Shooting

(With inputs from agencies)