Regulators Approve $1.9 Billion Settlement With PG&E, But Back Off on Major Fine
“The state Public Utilities Commission on Thursday approved a $1.9 billion settlement with PG&E that allows it to get credit for wildfire prevention spending while at the same time escape being fined $200 million over regulatory violations stemming from two years of massive wildfires,” reports Jaxon Van Derbeken in NBC Bay Area’s Investigative.
“The unanimous vote came after PG&E challenged the findings of a regulatory judge who urged that the company be fined on top of having to pay a total of $1.9 billion in improvements and upgrades.”
“In advocating for the no-fine deal, Commissioner Clifford Rechtschaffen reminded his colleagues about the devastation associated with 15 fires tied to the utility’s equipment in 2017 and 2018. ‘For the victims of the fire … the damage, the pain and the trauma is ongoing,’ he said.”
