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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.