SACRAMENTO, Calif — Pacific Gas & Electric’s $58 billion plan to end its contentious bankruptcy is about to clear its final hurdle.
U.S. Bankruptcy Judge Dennis Montali says he intends to sign an order confirming the plan late Friday or Saturday.
The nation’s largest utility had faced dozens of lawsuits after its outdated equipment ignited a series of wildfires in California that killed more than 100 people and wiped out entire towns.
The approval will clear the way for the nation’s largest utility to pay $25.5 billion for losses from devastating fires in 2017 and 2018.
The settlements include $13.5 billion earmarked for more than 80,000 wildfire victims.
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