Topline: As it continues to struggle with bankruptcy and public backlash over its role in sparking California wildfires, the embattled Pacific Gas & Electric Company is reportedly nearing a $1.7 billion settlement with state regulators for starting wildfires in 2017, according to Bloomberg.
- The embattled utility company also agreed to invest $50 million in corrective measures, with the rest of the settlement including money that the company has already spent on maintenance and inspections, according to Bloomberg’s report.
- The penalties are tied to a case with the California Public Utilities Commission, in which PG&E’s wildfire safety practices were found to be unsafe and against state rules.
