PG&E in talks with lawmakers on $11 billion fund: Bloomberg

June 5, 2019

(Reuters) – Troubled power utility PG&E Corp has spoken to lawmakers for arranging an about $11 billion fund to settle claims related to wildfires, Bloomberg reported on Wednesday.

San Francisco-based PG&E sought Chapter 11 bankruptcy protection in January after facing liabilities of more than $30 billion in the wake of Camp Fire, California’s deadliest and most destructive wildfire in recent times.

(Reporting By Shradha Singh in Bengaluru; Editing by James Emmanuel)

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