As part of that order, the regulator required PG&E to spend $850 million on gas pipeline safety improvements, $300 million toward the state’s general fund, $400 million on statement credits to ratepayers and about $50 million for other pipeline safety measures. The settlement for PG&E’s role in wildfires will be subject to public comments, a review by an administrative law judge and a vote by the utility commission’s members. While this deal addresses one potential regulatory challenge, PG&E still needs to win the approval of Mr. Newsom before it can put its wildfire liabilities behind it. In addition to getting its plan approved by Judge Montali, PG&E needs Mr. Newsom’s blessing. The fund is expected to help pay for damages from wildfires started by equipment owned by investor-owned utilities like PG&E, Southern California Edison and San Diego Gas & Electric.

Source: New York Times December 17, 2019 19:17 UTC