utility bankruptcy News

PG&E Corp. is close to finalizing terms for a $13.5 billion payout to victims of wildfires ignited by its power lines, a key step toward resolving the biggest utility bankruptcy in U.S. history, according to people familiar with the matter. …

A federal judge who has been critical of PG&E Corp.’s safety record said the utility has a “clear-cut pattern” of starting fires. U.S. District Court Judge William Alsup is overseeing PG&E’s probation for safety violations that led to felony convictions …