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| PG&E Will Plead Guilty to Manslaughter in Camp Fire | PG&E Will Plead Guilty to Manslaughter in Camp Fire |
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| Pacific Gas & Electric, California’s largest utility, said Monday that it had agreed to plead guilty to involuntary manslaughter in connection with the Camp Fire, the state’s deadliest wildfire. | |
| California regulators determined last year that PG&E’s equipment caused the fire, which in 2018 engulfed the town of Paradise and led to the deaths of 85 people. | California regulators determined last year that PG&E’s equipment caused the fire, which in 2018 engulfed the town of Paradise and led to the deaths of 85 people. |
| Facing tens of billions of dollars in wildfire claims, PG&E has been in bankruptcy reorganization since early last year. The company is racing to emerge from bankruptcy by June so that it can qualify for inclusion in a new state wildfire fund that could cover the costs of future fires. | Facing tens of billions of dollars in wildfire claims, PG&E has been in bankruptcy reorganization since early last year. The company is racing to emerge from bankruptcy by June so that it can qualify for inclusion in a new state wildfire fund that could cover the costs of future fires. |
| The plea agreement, struck with the district attorney in the county where the Camp Fire occurred, followed the announcement on Friday that Gov. Gavin Newsom was willing to approve PG&E’s plan to emerge from bankruptcy. Under the plan, victims of the wildfires have agreed to a payment of $13.5 billion. | The plea agreement, struck with the district attorney in the county where the Camp Fire occurred, followed the announcement on Friday that Gov. Gavin Newsom was willing to approve PG&E’s plan to emerge from bankruptcy. Under the plan, victims of the wildfires have agreed to a payment of $13.5 billion. |
| The plea agreement, announced in a securities filing, said PG&E had accepted a maximum penalty of $3.5 million and “no other or additional sentence will be imposed on the utility in the criminal action in connection with the 2018 Camp Fire.” | The plea agreement, announced in a securities filing, said PG&E had accepted a maximum penalty of $3.5 million and “no other or additional sentence will be imposed on the utility in the criminal action in connection with the 2018 Camp Fire.” |
| PG&E sought bankruptcy protection early last year — its second Chapter 11 filing in two decades — with $30 billion in liabilities related to wildfires ignited by the utility’s poorly maintained electrical system. | PG&E sought bankruptcy protection early last year — its second Chapter 11 filing in two decades — with $30 billion in liabilities related to wildfires ignited by the utility’s poorly maintained electrical system. |
| Under the agreement with Mr. Newsom announced on Friday, the utility pledged billions of dollars to help wildfire victims, improve safety and make other changes. | Under the agreement with Mr. Newsom announced on Friday, the utility pledged billions of dollars to help wildfire victims, improve safety and make other changes. |
| As part of the deal, PG&E will not pay dividends to shareholders for three years. The agreement should allow the utility to exit bankruptcy by June 30, a state-mandated deadline for it to take part in a fund that will help utilities pay claims from future wildfires. | As part of the deal, PG&E will not pay dividends to shareholders for three years. The agreement should allow the utility to exit bankruptcy by June 30, a state-mandated deadline for it to take part in a fund that will help utilities pay claims from future wildfires. |
| A federal judge’s approval is still needed for the company’s bankruptcy plan. | A federal judge’s approval is still needed for the company’s bankruptcy plan. |
| This is a developing story. Check back for updates. | This is a developing story. Check back for updates. |