PG&E announces $13B settlement for claims related to NorCal wildfires, Ghost Ship fire

SAN FRANCISCO -- PG&E has announced a massive settlement Friday night in several fires. The company says the settlement is valued at $13.5-billion.

The settlement will resolve all claims from individuals in the 2017 Northern California wildfires and the 2018 Camp Fire. It will also allow PG&E to emerge from Chapter 11 bankruptcy by June of next year.

"From the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary goal. We want to help our customers, our neighbors and our friends in those impacted areas recover and rebuild after these tragic wildfires," said CEO and President of PG&E Corporation Bill Johnson.

PG&E is also paying claims related to the Ghost Ship fire.

Although the company says it is not admitting guilt in either that one or the Tubbs Fire that burned in Sonoma County ion 2017.

This means that all major wildfire claims are now set to be resolved.