PG&E suggests wildfire fund
$105 million would go to California fire victims
PG&E intends to dedicate $105 million to creating a wildfire assistance program, according to legal documents.
If the U.S. Bankruptcy Court approves such a fund, it would provide financial relief to California fire victims, most likely those without sufficient insurance or who can prove financial hardship.
In other news, a federal judge ordered PG&E’s board to visit Paradise. Last month, 10 new board members were appointed, as well as CEO and President Bill Johnson. He will make $2.5 million annually, more than two times as much as his predecessor.
PG&E filed for bankruptcy in January, citing up to $30 billion in liabilities because of wildfires linked to its equipment.