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PG&E submits settlement agreement related to 2017, 2018 California wildfires

Dec 17 (Reuters) - PG&E Corp said on Tuesday it submitted a multi-party settlement agreement related to the 2017 and 2018 wildfires in Northern California to the California Public Utilities Commission (CPUC).

The settlement proposes the energy utility pay $50 million for shareholder-funded system enhancements, specifically on the company’s electric transmission and distribution system.

The settlement agreement also prohibits the company from seeking $1.625 billion in wildfire-related costs from customers. (Reporting by Rishika Chatterjee in Bengaluru; Editing by Subhranshu Sahu)

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