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.

Sign up for our Morning E-mail Newsletter to receive the latest headlines in your inbox.

,

Weather

Daily Forecast

View Hourly Forecast

Day

Conditions

HI / LO

Precip

Sunday

11/02/2025

Clear

-° / 54°

3%

Monday

11/03/2025

Clear

82° / 54°

3%

Tuesday

11/04/2025

Mostly Clear

79° / 52°

1%

Wednesday

11/05/2025

Mostly Cloudy

75° / 57°

12%

Thursday

11/06/2025

Partly Cloudy

69° / 54°

15%

Friday

11/07/2025

Clear

71° / 52°

5%

Saturday

11/08/2025

Mostly Clear

75° / 54°

3%

Sunday

11/09/2025

Partly Cloudy

79° / 55°

6%