Pacific Gas & Electric is warning its elaborate plan for getting out of bankruptcy might collapse if the utility can’t pay for its crimes in a deadly wildfire by taking money away from a fund set up to compensate thousands of victims for their losses.
The twist this week comes after PG&E disclosed it will plead guilty to 84 felony counts of involuntary manslaughter for its role in a deadly wildfire in Northern California in 2018.
The nation's largest utility will pay a $4 million fine as part of its plea but plans to do so by drawing upon a $13.5 billion settlement with wildfire victims.
