PG&E's $70 million settlement with San Bruno

Posted By Blog Manager || 15-Mar-2012

PG&E will pay the City of San Bruno $70 million as compensation for the 2010 gas pipeline explosion. As part of the deal, San Bruno will have to cap at $50 million in a separate trust fund that PG&E created. This fund will be used to replace infrastructure destroyed in the blast, pay for social services for residents, and city staff time. No decisions have been made as to how the money will be spent. San Bruno will form a nonprofit that will manage the money and the decisions will be made after a public process. PG&E President Chris Johns claims that the payment to San Bruno will be taken out of shareholders' pocket and not that of the ratepayers.

San Bruno urges PG&E to settle the lawsuits brought on by several victims of the blast, so that their residents can continue to work on rebuilding their lives.

Source:

http://www.mercurynews.com/news/ci_20156461/pg-e-san-bruno-reach-70-million-restitution

Categories: Legal News
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