PG&E Is Offering $13.5 Billion in Compensation to Wildfire Victims

Creditor group led by Elliott, Pimco have offered that amount
PG&E is rushing to come up with a viable restructuring plan

A statue stands outside a burn-out building from the Camp Fire in Paradise, California on Nov. 13, 2018.Photographer: David Paul Morris/Bloomberg

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By Mark Chediak and Scott Deveau

November 11, 2019 at 10:08 PM UTC

Updated on

November 12, 2019 at 4:04 PM UTC

This article is for subscribers only.

Bankrupt utility giant PG&E Corp. is trying to offer $13.5 billion in compensation to the victims of wildfires sparked by its power lines as part of a restructuring plan, according to people with knowledge of the situation.

The company’s shares surged as much as 19%.