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Forest Fires in California: The Energy Company Commits to Pay $ 1 Billion for Damage



  Trailer Park is photographed in an aerial photograph as completely destroyed.

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The heavily damaged city of Paradise will receive part of the money

The Pacific Gas & Electric Corp. (PG & E) has agreed to pay the local California authorities US $ 1

billion (£ 800 million) for the forest fire damage they have alleged.

The settlement payments will be sent to 14 different entities as part of the recovery of the bankruptcy of the utility.

The claims come from the Butte Fire 2015, the North Bay Fires 2017 and the Camp Fire 2018.

The city of Paradise, which was virtually destroyed in a devastating fire in November, receives $ 270 million.

The campfire, which began in Butte County, claimed 85 casualties – the deadliest in state history.

Californian fire investigators said in May that the fire was triggered by transmission lines owned by PG & E.

The public prosecutor examines possible criminal charges in connection with the fire.

Media playback on your device is not supported. [19659014] Media Signature Rebuilding Paradise: "Our City Is Out"

The San Francisco-based utility filed for bankruptcy in January 2019, claiming billions of dollars of debt from lawsuits it faces.

The comparisons announced on Tuesday did not include hundreds of individual claims from businesses and homeowners.

Due to the restructuring of the bankruptcy, all financial agreements reached by PG & E have yet to be approved in court.

"We hope PG & E will be able to get out of bankruptcy as soon as possible so that these funds can be disbursed," said John Fiske, an attorney for a law firm representing the authorities, told Bloomberg: [19659007] PG & E told Reuters that the agreement was an "important first step" towards an "orderly, fair and swift solution" of forest fire claims.


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