SACRAMENTO, Calif. — Pacific Gas & Electric says its plan for getting out of bankruptcy has won overwhelming support from the victims of deadly Northern California wildfires ignited by the utility’s fraying electrical grid.
The victims backed PG&E's blueprint despite concerns that they will be shortchanged by a $13.5 billion fund that’s supposed to cover their losses. The preliminary results of a vote announced Monday keep PG&E on track for meeting a June 30 deadline to get out of bankruptcy so it can qualify for coverage from a California wildfire insurance fund that was created to help protect the utility from getting into financial trouble again.
In 2018, a PG&E power line sparked the Camp Fire, killing 85 people, burning roughly 153,336 acres and destroying thousands of homes and businesses.
Soon after, in January 2019, the electric company filed for bankruptcy because it was facing at least $30 billion in potential damages from lawsuits. Along with the Camp Fire, the utility’s equipment is blamed for starting massive wildfires in Northern California in 2017 and 2018, killing more than 100 people.
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