PG&E Plan to Emerge from Bankruptcy Caps Fire Liabilities

PG&E submitted a plan in federal court yesterday to emerge from the largest utility bankruptcy in U.S. history, and it caps fire liabilities at $18 billion dollars. The proposal also would cap payments to insurance carriers that are seeking reimbursement from PG&E for wildfire claims they paid out at $8.5 billion, and government entities would get $1 billion. It total, in amounts to nearly half of the $30 billion in wildfire-related liabilities PG&E faces.