Pacific Gas & Electric struck a $125 million settlement agreement with California regulators over the destructive Kincade fire, which was ignited in 2019 by the utility’s equipment in a remote area of Sonoma County.
PG&E shareholders would pay a $40 million fine to the state general fund and spend another $85 million in the removal of abandoned transmission equipment throughout the utility’s territory as part of the agreement expected to be approved by the California Public Utilities Commission at its Dec. 2 meeting, the Press Democrat reported Wednesday.
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The agreement was reached after the commission’s Safety and Enforcement Division found fault with the maintenance and condition of a high-voltage PG&E transmission tower that remained energized for years even though it had served a Calpine power plant that no longer was active.
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