PG&E’s $105 Million Housing Assistance Fund for Northern California Wildfire Survivors Approved by Bankruptcy Court
May 22 2019 - 4:33PM
Business Wire
Pacific Gas and Electric Company (PG&E) announced today that
it received approval from the bankruptcy court to create a $105
million housing assistance fund to support those displaced by the
2017 Northern California wildfires and 2018 Camp Fire.
The Wildfire Assistance Fund is intended to aid those displaced
by the 2017 Northern California wildfires and the 2018 Camp Fire,
specifically those who are either uninsured or need assistance with
alternative living expenses or other urgent needs.
“PG&E remains committed to helping wildfire victims rebuild
and recover, and this program is part of how we’re living up to
that commitment,” said PG&E Corporation Chief Executive Officer
and President Bill Johnson. “We feel strongly that helping these
communities in their time of need is the right thing to do and
appreciate the court’s decision.”
Selection of Plan Administrator
To make the funds available to wildfire victims as quickly as
possible, PG&E and various committees will be moving forward as
part of the Chapter 11 process with the selection of a third-party
administrator to oversee the disbursement to eligible
participants.
Once selected, the plan administrator will work with a team of
qualified professionals, including claims agents and accountants,
to establish eligibility requirements and review applications for
assistance. When establishing eligibility requirements, the
administrator will give priority to those participants who are most
in need, including those who are currently without adequate
shelter. Discussion regarding the selection of a plan administrator
will begin immediately, and eligibility requirements are expected
to be finalized by the plan administrator shortly thereafter.
The administrator may also partner with local housing agencies
and community organizations to assist with the administration of
the Wildfire Assistance Program.
Plan Expenses and Funding
The costs associated with administering the fund, including fees
associated with the administrator, program professionals or
partnering with local organizations, will be capped at $5 million,
ensuring that the vast majority of the fund will be used to aid
with the living expenses and urgent needs of wildfire victims.
The $105 million being provided by PG&E will be made
available from the company’s cash reserves. PG&E will not seek
cost recovery from its customers.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E
Corporation (NYSE:PCG), is one of the largest combined natural gas
and electric utilities in the United States. Based in San
Francisco, with more than 20,000 employees, the company delivers
some of the nation’s cleanest energy to nearly 16 million people in
Northern and Central California. For more information, visit
www.pge.com/ and
www.pge.com/en/about/newsroom/index.page.
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