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(Reuters) — PG&E Corp. said on Tuesday it submitted a multi-party settlement agreement related to the 2017 and 2018 wildfires in Northern California to the California Public Utilities Commission.
The settlement proposes the energy utility pay $50 million for shareholder-funded system enhancements, specifically on the company's electric transmission and distribution system.
The settlement agreement also prohibits the company from seeking $1.625 billion in wildfire-related costs from customers.
(Reuters) – California power producer PG&E Corp. said on Friday it has reached an $11 billion settlement with entities representing about 85% of insurance subrogation claims relating to 2017 and 2018 wildfires.