PG&E still lacks estimate on compensating wildfire victims

SAN FRANCISCO (AP) — Pacific Gas & Electric Corp.’s top financial executives say they still haven’t determined when the utility can start compensating victims of recent wildfires started by the utility’s equipment.

Victims’ lawyers questioned PG&E executives during a bankruptcy meeting Monday in San Francisco. They wanted to know when the utility would file its plan to emerge from bankruptcy and pay the billions of dollars in claims pending against it.

PG&E Chief Financial Officer Jason Wells said the utility doesn’t yet know when it will file that plan.

Wells said the company recognizes it must act as quickly as possible, but said a lot of work remains to be done before PG&E can file its plan including working with state lawmakers to pass new laws limiting its future wildfire liabilities.

Categories: California News