PG&E Corp. expects to take a fourth-quarter charge of $4.9 billion in connection with a new $13.5 billion deal to settle claims from wildfire victims, the company disclosed in a securities filing Monday. The new charge, which PG&E expects to take by year’s end, would raise the company’s total recorded fire-related charges to over $25… Continue reading PG&E Charges to Swell to $25 Billion After Wildfire Settlement
Tag: PG&E insured losses
California Governor Questions $11B PG&E Insurance Deal
California Gov. Gavin Newsom questioned PG&E Corp.’s $11 billion settlement proposal for insurance losses tied to wildfires and said it could derail the utility’s bankruptcy exit strategy. In a court filing on Saturday, the Democratic governor raised several objections to the proposed deal with insurance creditors after it emerged as a sticking point in negotiations… Continue reading California Governor Questions $11B PG&E Insurance Deal