California to Fine PG&E

California to Fine PG&E

California is no stranger to wildfires. Each year, there seem to be several major fires that threaten communities both small and large. Specifically, the fires of 2017 and 2018 were especially destructive and deadly.

In response, California legislators levied a $1.675 billion settlement on Pacific Gas & Electric (PG&E) as compensation for damages caused by those fires.

While this isn’t technically regarded as a fine, it still requires PG&E to pay damages for which they admitted responsibility. PG&E shareholders also promised an additional $50 million would be allocated towards “system enhancements” to prevent future wildfires. The utility company has a reputation for its decaying and ill-maintained infrastructure.

Damages caused by the fires in Napa and Sonoma during 2017 and the Camp Fire of 2018 are the main incidents being addressed. The Camp Fire destroyed most of the city Paradise and, combined, the fires killed over 120 individuals. PG&E is still developing an acceptable bankruptcy plan to appease California officials, including Gov. Gavin Newsom.

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