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Judge OKs $58B plan to end PG&E bankruptcy after wildfires

PG&E HEADQUARTERS
Posted at 2:51 PM, Jun 19, 2020
and last updated 2020-06-19 17:51:50-04

(AP) — A U.S. judge has approved Pacific Gas & Electric’s $58 billion plan to end its contentious bankruptcy.

The nation’s largest utility had faced dozens of lawsuits after its outdated equipment ignited a series of wildfires in California that killed more than 100 people and wiped out entire towns.

Friday's decision clears the way for the nation’s largest utility to pay $25.5 billion for losses from devastating fires in 2017 and 2018.

The settlements negotiated during the 17-month bankruptcy case include $13.5 billion earmarked for more than 80,000 people who lost family, homes and other property in the fires.