Pacific Gas & Electric pleads guilty - Front Page Live

Pacific Gas & Electric pleads guilty

03/24/2020 4:28 pm ET Molly Taft

 

PG&E’s Guilty

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California’s largest utility said Monday that it would plead guilty to involuntary manslaughter for its role in the state’s deadliest wildfire.

In a federal filing with the Securities and Exchange Commission, Pacific Gas & Electric said it had reached a settlement last week with the Butte County district attorney’s office finding the utility responsible for 84 counts of involuntary manslaughter in the 2018 Camp Fire.

The plea agreement includes stipulations that the utility must pay into a $13.5 billion settlement fund for survivors, but limits the penalty it must pay to $3.5 million and prosecutors won’t pursue any more criminal charges against the utility.

On Friday, Gov. Gavin Newsom approved PG&E’s plan to exit bankruptcy, which the company filed last year after a series of devastating fires generated several lawsuits and a mountain of insurance claims.

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