NewsCovering California

Actions

PG&E looking for money from state to cover costs of Camp Fire lawsuits

Posted at 10:26 AM, Aug 22, 2019
and last updated 2019-08-22 13:27:37-04

There's a plan in place to help give PG&E money to cover the costs of multiple lawsuits. And the utility company would not be on the hook to pay taxes on that money.

PG&E is facing payouts of up to $30 billion connected to lawsuits stemming from wildfires across California, including the deadly Camp Fire in Paradise where 86 people were killed.

PG&E has asked the California legislature to borrow money to cover costs. Assemblyman Chad Mayes has proposed a plan that would let tax-exempt bonds be used to cover those costs.

The costs would be paid by shareholders, not tax payers, keeping PG&E exempt from paying taxes.

The state's senate rules committee has not decided if the proposal will move forward.