Ex-PG&E execs to pay $117M to settle lawsuit over wildfires

OAKLAND, Calif. (AP) — Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility’s equipment. The settlement was announced Thursday by the PG&E Fire Victim Trust, which was established to handle claims filed by more than 80,000 victims of deadly wildfires ignited by PG&E’s rickety electrical grid. The nation’s largest utility calls the settlement “another step forward” as it continues working to reduce risk from its electrical system. PG&E has been blamed for more than 30 wildfires since 2017 that wiped out more than 23,000 homes and businesses and killed more than 100 people.