California utility offers $105M 'wildfire assistance' plan

Pacific Gas & Electric says it will set up a $105 million fund to help survivors of recent California wildfires started by the utility's equipment.

In a court filing, PG&E says the wildfire assistance program will provide relief for people who lost property during huge blazes in 2017 and 2018.

The plan requires approval in federal bankruptcy court. PG&E filed for bankruptcy protection in January, saying it faced at least $13 billion in legal claims from wildfire victims.

The filing says the program would be administered by an independent third party chosen in consultation with lawyers for PG&E's creditors.

PG&E's equipment is the prime suspect in the cause of October 2017 fires in Napa and Sonoma counties and last November's fire that wiped out the town of Paradise.