PG&E to settle all claims related to Northern California wildfires for $13.5 billion

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Johnson also expressed appreciation to all the stakeholders that helped reach the deal. He added that PG&E is “focused on emerging from Chapter 11 as the utility of the future that our customers and communities expect and deserve.”

Furthermore, Johnson stated, “There have been many calls for PG&E to change in recent years…and we realize we need to do even more to be a different company now and in the future. We will continue to make the needed changes to re-earn the trust and respect of our customers, our stakeholders and the public. We recognize we need to deliver safe and reliable energy service every single day—we’re determined to do just that.”

PG&E is committed to reducing the risk of future wildfires

“Finally, we share the state’s focus on helping mitigate the risk of future wildfires and we will continue to do everything we can to help reduce those risks across our system.” said Johnson.

PG&E expects to exit bankruptcy and reorganize itself by June 30 next year, the deadline to participate in California’s go-forward wildfire fund.