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Image Credit: Shortpedia

PG&E Corp reaches $13.5 billion settlement with California wildfire victims

Shortpedia

Content Team

California's bankrupt power producer PG&E Corp has reached a $13.5 billion settlement with victims of some of the most devastating wildfires in the state's modern history. The agreement has been made to help the company emerge from bankruptcy. The company filed for Chapter 11 protection in January, citing potential liabilities in excess of $30 billion from wildfires in 2017 and 2018 linked to its equipment.