SAN FRANCISCO--(BUSINESS WIRE)--
Pacific Gas and Electric Company (PG&E) announced today that it received
approval from the bankruptcy court to create a $105 million housing
assistance fund to support those displaced by the 2017 Northern
California wildfires and 2018 Camp Fire.
The Wildfire Assistance Fund is intended to aid those displaced by the
2017 Northern California wildfires and the 2018 Camp Fire, specifically
those who are either uninsured or need assistance with alternative
living expenses or other urgent needs.
“PG&E remains committed to helping wildfire victims rebuild and recover,
and this program is part of how we’re living up to that commitment,”
said PG&E Corporation Chief Executive Officer and President Bill
Johnson. “We feel strongly that helping these communities in their time
of need is the right thing to do and appreciate the court’s decision.”
Selection of Plan Administrator
To make the funds available to wildfire victims as quickly as possible,
PG&E and various committees will be moving forward as part of the
Chapter 11 process with the selection of a third-party administrator to
oversee the disbursement to eligible participants.
Once selected, the plan administrator will work with a team of qualified
professionals, including claims agents and accountants, to establish
eligibility requirements and review applications for assistance. When
establishing eligibility requirements, the administrator will give
priority to those participants who are most in need, including those who
are currently without adequate shelter. Discussion regarding the
selection of a plan administrator will begin immediately, and
eligibility requirements are expected to be finalized by the plan
administrator shortly thereafter.
The administrator may also partner with local housing agencies and
community organizations to assist with the administration of the
Wildfire Assistance Program.
Plan Expenses and Funding
The costs associated with administering the fund, including fees
associated with the administrator, program professionals or partnering
with local organizations, will be capped at $5 million, ensuring that
the vast majority of the fund will be used to aid with the living
expenses and urgent needs of wildfire victims.
The $105 million being provided by PG&E will be made available from the
company’s cash reserves. PG&E will not seek cost recovery from its
customers.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E
Corporation (NYSE:PCG), is one of the largest combined natural gas
and electric utilities in the United States. Based in San Francisco,
with more than 20,000 employees, the company delivers some of the
nation’s cleanest energy to nearly 16 million people in Northern and
Central California. For more information, visit www.pge.com/
and www.pge.com/en/about/newsroom/index.page.
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415.973.5930
Source: Pacific Gas and Electric Company