PG&E Reorg Plan Includes $16.9B For Wildfire Claims
Law360 (September 9, 2019, 11:23 PM EDT) -- Pacific Gas and Electric has offered to set aside $16.9 billion for public entities and victims of the disastrous wildfires that ravaged California in recent years as part of its Chapter 11 reorganization plan, according to the lengthy proposal filed Monday in California bankruptcy court.
The plan aims to achieve a "rate-neutral solution" for customers, meet state clean energy goals and permit the troubled utility to exit bankruptcy by June 2020, a deadline PG&E must meet for it to participate in a $21 billion wildfire insurance fund, according to a 135-page summary of the proposal also filed Monday. It calls on...
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