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PG&E Nearing $13.5B Deal With California Wildfire Victims

Insurance Journal

Bankrupt California power producer PG&E Corp. is close to finalizing terms for a $13.5 billion payout to victims of wildfires triggered by its power lines, Bloomberg reported on Wednesday, citing people familiar with the matter. The payment will be made …...


Gerard Reid's picture
Gerard Reid on Dec 5, 2019 6:15 pm GMT

It must be the worst managed utility in the world?

Matt Chester's picture
Matt Chester on Dec 5, 2019 10:59 pm GMT

The inverse condemnation rule that's unique to California, which was already prone to natural disasters, may have set it up to run into problems no matter what, but it's certainly fair to say they've managed to bungle step after step along the way in a way that's evaporated goodwill or benefit of the doubt..

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