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PG&E to spend $125M for igniting massive California fire

California Wildfires PG&E Settlement
Posted at 9:32 PM, Nov 04, 2021
and last updated 2021-11-05 00:32:34-04

SONOMA, Calif. (AP) — Pacific Gas & Electric has reached a $125 million settlement agreement with California regulators over the destructive Kincade fire, which was ignited in 2019 by the utility’s equipment in a remote area of Sonoma County.

The Press Democrat reported Wednesday that PG&E shareholders would pay a $40 million fine to the state general fund and another $85 million for removal of abandoned transmission equipment throughout the utility’s territory as part of the agreement expected to be approved by the California Public Utilities Commission at its Dec. 2 meeting.

The agreement was reached after the commission’s Safety and Enforcement Division found a high-voltage PG&E transmission tower ignited the blaze.