SAN FRANCISCO (AP) – Pacific Gas & Electric has settled a dispute with disaster-relief agencies that threatened to siphon money away from a $13.5 billion fund earmarked for victims of catastrophic wildfires caused by the nation’s largest utility.
The resolution disclosed Tuesday by a PG&E lawyer during a court hearing could remove a major stumbling block as the company scrambles to meet a June 30 deadline to emerge from bankruptcy.
The deal calls for the Federal Emergency Management Agency and California’s Office of Emergency Services to pare their claims from $4 billion to $1 billion.
Other details are expected to be revealed next week.
