PG&E Corp. offered $18 billion in wildfire payments as part of a reorganization plan filed Sept. 9 in bankruptcy court with less than half of the money going directly to the victims.
The proposal calls for establishing two trust funds, one capped at $8.4 billion to pay wildfire victims and the other capped at $8.5 billion for insurers who had to pay out claims from a series of deadly Northern California blazes in 2017 and 2018. Local governments that have already settled with PG&E would receive $1 billion.
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