California Wildfires Compensation
California Wildfires Compensation Pacific Gas&Electric (PG & E), a submerged energy company in the U.S. State of California, has been agreed to pay $ 13.5 billion in compensation to the victims ‘ families for its role in the most devastating fires in state history.
PG&E filed for bankruptcy protection in January, stating that it faces a $ 30 billion sentence for its role in the province’s fires in 2017 and 2018.
The deal will help the company recover from bankruptcy.
“With the successful completion of this important milestone, we are now focusing on getting out of bankruptcy protection, as our customers and our community hoped and deserved,” Bill Johnson, Chairman of the Board of Directors, said in a written statement.
Official investigations concluded that Camp Fire, the most deadly forest fire ever recorded in California history, was caused by the company’s power transmission lines.