PG and E offers to pay $16.9 billion dollars to pay for wildfire claims in its reorganization plan in US bankruptcy court.
It’s the first step in resolving a conflict between wildfire victims, insurance companies and other creditors over the future of PG and E.
The plan still needs approval from the bankruptcy judge, the creditors and the PUC.
The plan is designed to get PG and E out of bankruptcy by June 30th of next year. That’s the deadline set by the California legislature.