PG&E reaches $13.5B agreement with wildfire victims

Dec 6 (Reuters) - Bankrupt California power producer PG&E Corp said on Friday it had reached a $13.5 billion agreement to resolve individual claims relating to the 2017 and 2018 wildfires and the 2015 butte fire.

In a final major settlement, the company said it had reached settlements with all major groups of wildfire claimants, including the Official Committee of Tort Claimants (TCC) and with firms representing individual claimants.

"With this important milestone now accomplished, we are focused on emerging from Chapter 11 as the utility of the future that our customers and communities expect and deserve," Chief Executive Officer Bill Johnson said in a statement.

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TOPSHOT - In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
Fires burn toward the Pacific Ocean as seen Friday, Nov. 9, 2018, over Santa Monica, Calif. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
TOPSHOT - In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
A DC-10 air tanker flies over homes as fires burn Friday, Nov. 9, 2018, as seen from a helicopter over the Calabasas section of Los Angeles. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
A home burns Friday, Nov. 9, 2018, as seen from a helicopter in the Calabasas section of Los Angeles. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
In this aerial photo, a burned neighborhood is seen in Paradise, California, on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
Fires burn toward the Pacific Ocean Friday, Nov. 9, 2018, as seen from a helicopter over Simi Valley, Calif. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
In this aerial photo, a burned neighborhood is seen in Paradise, California, on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
An air tanker gets ready to drop flame retardant to protect homes as fires burn Friday, Nov. 9, 2018, seen from a helicopter over the Calabasas section of Los Angeles. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
TOPSHOT - In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
An air tanker gets ready to drop flame retardant to protect multimillion dollar homes from fires Friday, Nov. 9, 2018, as seen from a helicopter over the Calabasas section of Los Angeles. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
TOPSHOT - In this aerial photo, a burned neighborhood is seen in Paradise, California, on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
Fires burn Friday, Nov. 9, 2018, as seen from a helicopter over the Calabasas section of Los Angeles. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
Fires burn toward the Pacific Ocean as seen Friday, Nov. 9, 2018, over Santa Monica, Calif. Flames driven by powerful winds torched dozens of hillside homes in Southern California, burning parts of tony Calabasas and mansions in Malibu and forcing tens of thousands of people — including some celebrities — to flee as the fire marched across the Santa Monica Mountains toward the sea. The cause of the blazes was not known. (AP Photo/Mark J. Terrill)
In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
In this aerial photo, a burned neighborhood is seen in Paradise, California on November 15, 2018. - The toll in the deadliest wildfires in recent California history climbed to 59 on November 14, 2018, as authorities released a list of 130 people still missing. (Photo by Josh Edelson / AFP) (Photo credit should read JOSH EDELSON/AFP/Getty Images)
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The agreed settlement is subject to a number of conditions and requires confirmation by the United States Bankruptcy Court, the company said.

PG&E had previously reached a $1 billion settlement with cities, counties and other public entities and an $11 billion agreement with insurance carriers related to 2017 and 2018 wildfires in California. (Reporting by Bhargav Acharya in Bengaluru; Editing by Michael Perry & Shri Navaratnam)

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