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PG&E files bankruptcy reorganzation plan, promises customers' rates will not rise

 

PG&E on Monday filed a Chapter 11 bankruptcy reorganization plan in another step to, among other efforts, compensate wildfire victims, PG&E officials said.

The San Francisco-based company said the plan filed Monday will not raise or lower customers' rates while compensating wildfire victims "fairly."

PG&E's liability would be limited to $17.9 billion if the court approves the plan.

Wildfire victims and certain public entities would receive no more than $8.4 billion.

PG&E is trying to reorganize before June 30, 2020, so the company can participate in the state's newly-established wildfire fund.

— Bay City News Service

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