SAN FRANCISCO--(BUSINESS WIRE)--
Pacific Gas and Electric Company (PG&E) has reached agreements to
resolve the wildfire claims held by 18 local public entities (cities,
counties, districts and public agencies) impacted by the 2015 Butte
Fire, 2017 Northern California wildfires and 2018 Camp Fire. Under the
agreements, $1 billion in payments will be made as part of a Chapter 11
Plan of Reorganization to be filed in PG&E’s pending Chapter 11 case
(POR).
“We remain focused on supporting our customers and the communities
impacted by wildfires and helping them recover and rebuild. This is an
important first step toward an orderly, fair and expeditious resolution
of wildfire claims and a demonstration of our willingness to work
collaboratively with stakeholders to achieve mutual acceptable
resolutions. We hope to continue making progress with other
stakeholders,” said PG&E Corporation President and CEO Bill Johnson.
The payment of the settlement funds is subject to Bankruptcy Court
confirmation of, and the occurrence of the effective date under, the
POR, which will provide for the payment of the settlement funds to the
local government agencies in full settlement and satisfaction of their
wildfire claims. While the filing date of the POR with the Bankruptcy
Court remains uncertain, PG&E intends to complete the Chapter 11 process
as expeditiously as possible.
JAMS Mediator Judge Jay Gandhi (Ret.) presided over several days of
in-person mediation sessions held in San Francisco that resulted in the
settlement.
During the Chapter 11 process PG&E remains fully committed to enhancing
its wildfire safety efforts, as well as helping to restore and rebuild
communities impacted by the wildfires. The company is also committed to
continuing to deliver safe and reliable natural gas and electric service
to its customers every day.
The agreements with the public entities reflect a consensual resolution
of their claims against PG&E for damages related to the wildfires. A
list of the public entities is below.
Public Entities
The following entities comprise the 2015Butte Fire Public
Entity Plaintiffs: Calaveras County Water District, a special
district organized under the laws of the State of California.
The following entities comprise the 2017North Bay Public
Entity Plaintiffs: (a) The City of Clearlake, a California municipal
corporation duly organized and existing by virtue of the laws of the
State of California; (b) the City of Napa, a California municipal
corporation duly organized and existing by virtue of the laws of the
State of California; (c) the City of Santa Rosa, a California municipal
corporation duly organized and existing by virtue of the laws of the
State of California; (d) Lake County, a California municipal corporation
duly organized and existing by virtue of the laws of the State of
California; (e) Lake County Sanitation District, a sanitary district
organized under the laws of the State of California; (f) Mendocino
County, a general law California county and political subdivision of the
State of California, duly organized and existing by virtue of the laws
of the State of California; (g) Napa County, a general law California
county and political subdivision of the State of California, duly
organized and existing by virtue of the laws of the State of California;
(h) Nevada County, a California municipal corporation duly organized and
existing by virtue of the laws of the State of California; (i) Sonoma
County, a general law California county and political subdivision of the
State of California, duly organized and existing by virtue of the laws
of the State of California; (j) Sonoma County Agricultural Preservation
and Open Space District, a public agency formed pursuant to the Public
Resources code sections 5500, et seq.; (k) Sonoma County Community
Development Commission, a public and corporate entity pursuant to
Section 34110 of the California Health & Safety Code; (l) Sonoma County
Water Agency, a public agency of the State of California; (m) Sonoma
Valley County Sanitation District, a sanitary district organized under
the laws of the State of California; and (n) Yuba County, a California
municipal corporation duly organized and existing by virtue of the laws
of the State of California.
The following entities comprise the 2018 Camp Fire Public Entity
Plaintiffs: (a) The Town of Paradise, a municipal corporation, duly
organized and existing by virtue of the laws of the State of California;
(b) Butte County, a political subdivision of the State of California,
duly organized and existing by virtue of the laws of the State of
California; (c) Paradise Park and Recreation District, a special
district organized under the laws of the State of California; and (d)
Yuba County, a political subdivision duly organized and existing by
virtue of the laws of the State of California.
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 energy companies in the United States. Based in San
Francisco, with more than 23,000 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 pge.com/news.
Cautionary Statement Concerning Forward-Looking Statements
This news release includes forward-looking statements that are not
historical facts, including statements about the beliefs, expectations,
estimates, future plans and strategies of PG&E Corporation and Pacific
Gas and Electric Company. These statements are based on current
expectations and assumptions, which management believes are reasonable,
and on information currently available to management, but are
necessarily subject to various risks and uncertainties. In addition to
the risk that these assumptions prove to be inaccurate, factors that
could cause actual results to differ materially from those contemplated
by the forward-looking statements include the factors disclosed in PG&E
Corporation and Pacific Gas and Electric Company’s annual report on Form
10-K for the year ended December 31, 2018, their most recent quarterly
report on Form 10-Q for the quarter ended March 31, 2019, and their
subsequent reports filed with the Securities and Exchange Commission.
Additional factors include, but are not limited to, those associated
with PG&E Corporation’s and Pacific Gas and Electric Company’s Chapter
11 cases. PG&E Corporation and Pacific Gas and Electric Company
undertake no obligation to publicly update or revise any forward-looking
statements, whether due to new information, future events or otherwise,
except to the extent required by law.
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Media Relations
415.973.5930
Source: Pacific Gas and Electric Company