PG&E Announces Deal With Bondholders

PG&E has reached a deal with Bondholders effectively settling with all involved parties of the Bankruptcy. The utility announced the deal on Wednesday with details unclear with PG&E suggesting the compromise will save PG&E ratepayers an estimated $1 billion. The deal joins two other significant settlements with victims for $13.5 billion, Insurance companies for $11 billion, and local governments and entities for $1 billion. Governor Gavin Newsom is still objecting to PG&E bankruptcy exit plan citing as a main concern the lack of funds needed for safety investments.