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

Tuesday

03/17/2026

Clear

-° / 62°

3%

Wednesday

03/18/2026

Clear

95° / 63°

2%

Thursday

03/19/2026

Clear

93° / 63°

3%

Friday

03/20/2026

Mostly Clear

94° / 65°

2%

Saturday

03/21/2026

Partly Cloudy

90° / 61°

3%

Sunday

03/22/2026

Partly Cloudy

85° / 58°

2%

Monday

03/23/2026

Partly Cloudy

86° / 58°

1%

Tuesday

03/24/2026

Clear

86° / 58°

1%