PG&E Corp. may set up a $105 million housing fund for victims of 2017 and 2018 wildfires in California, which set records for devastation and were blamed on the utility’s equipment, the judge overseeing the bankruptcy of the investor-owned power producer ruled on Wednesday.
Creditors, which include wildfire victims, are fighting for funds as PG&E navigates bankruptcy stemming from the blazes and as the state plans for increasingly long and dangerous fire seasons its officials attribute to climate change.
U.S. Bankruptcy Judge Dennis Montali at a hearing approved a motion by PG&E seeking permission to establish the fund for people who lost homes in the fires and were uninsured or have used up or will exhaust their insurance.
San Francisco-headquartered PG&E sought Chapter 11 bankruptcy protection in January in the face of liabilities it estimated at over $30 billion in the aftermath of November’s Camp Fire, California’s deadliest and most destructive wildfire in modern times.
The Camp Fire killed more than 85 people and destroyed more than 14,600 houses, mobile homes and other housing units, according to California’s Department of Finance.