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PG&E Urges Judge To Approve Key Settlement, Faces Resistance

SAN FRANCISCO (AP) – Pacific Gas & Electric is urging a federal bankruptcy judge to approve a key insurance settlement as it struggles to cover at least $20 billion in losses stemming from catastrophic wildfires in California. The nation’s largest utility met fierce resistance Wednesday¬†from attorneys for thousands of wildfire victims and California Gov. Gavin Newsom. They argued that PG&E’s $11 billion settlement with about 110 insurers that have already paid fire claims threatens to shortchange uninsured and underinsured fire victims. Newsom is pressuring PG&E to revise its plan to set aside an additional $13.5 billion for victims.