NewsCalifornia News

Actions

Market Tumult Threatens PG&E Deal with Wildfire Victims

Posted
and last updated

BERKELEY, Calif. — Lawyers who negotiated a crucial $13.5 billion deal for the victims of deadly wildfires caused by Pacific Gas & Electric equipment are expressing serious doubts about whether the nation's largest utility will be able to pay the full amount as the economy sinks toward a recession.

The red flag raised in court documents filed Monday threatens to derail PG&E's plan to emerge from bankruptcy this summer. The concerns center on the recent stock market tumult triggered by the coronavirus that has dramatically shifted the financial landscape.

PG&E struck its $13.5 billion settlement with wildfire victims in December.

,

Weather

Daily Forecast

View Hourly Forecast

Day

Conditions

HI / LO

Precip

Friday

06/12/2026

Sunny

105° / 74°

0%

Saturday

06/13/2026

Sunny

104° / 73°

0%

Sunday

06/14/2026

Sunny

103° / 73°

0%

Monday

06/15/2026

Sunny

103° / 74°

0%

Tuesday

06/16/2026

Sunny

104° / 75°

0%

Wednesday

06/17/2026

Sunny

103° / 72°

0%

Thursday

06/18/2026

Sunny

99° / 68°

0%

Friday

06/19/2026

Sunny

95° / 64°

0%