California power provider PG&E Corp on Monday unveiled the outlines of a reorganization plan that will pay $17.9 billion for claims stemming from the wildfires that pushed it to seek bankruptcy protection.
The plan filed in U.S. Bankruptcy Court in San Francisco includes payments capped at $8.4 billion for wildfire victims, payments capped at $8.5 billion for reimbursing insurers that had paid victims and a $1 billion settlement with local governments.
The plan also would pay PG&Es debts in full and honor the companys contracts, including ones for buying renewable energy to help California meet its goals for cutting greenhouse emissions.