Wildfire victims react to $13.5 billion PG&E settlement

California

SAN FRANCISCO (KRON) – PG&E has agreed to a $13.5 billion settlement after recent wildfires in Northern California.

Now, wildfire victims have a better idea of how the money will be split up.

They say this a good first step as they continue to try and heal.

On Monday morning, we are waiting for more information about the billion-dollar settlement which resolves major claims related to deadly wildfires from 2015-2018.

The money will be divided between victims of the Tubbs, Camp, and Butte Fires, in addition to the Ghost Ship Warehouse fire in Oakland.

Lawyers of the victims say the money is to be paid out in eight to 12 months from PG&E’s cash and the rest will be from bonds.

PG&E is currently in Chapter 11 bankruptcy and says the utility company has the financial backing in equity to support the settlement and plan.

The president and CEO of PG&E, Bill Johnson released a statement:

“From the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary goal. We want to help our customers, our neighbors and our friends in those impacted areas recover and rebuild after these tragic wildfires.”

Wildfire victims had a press conference on Sunday.

Attorney’s say more than 30,000 claims have been submitted and victims have until December 31 to file one.

The settlement still has to be approved by a federal judge.

A hearing has been set for later this month.

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