PG&E agrees to $13.5 billion California wildfire victim settlement

Financial compensation may soon be on the way for some of California's wildfire victims.

Pacific Gas & Electric agreed Friday to pay $13.5 billion in damages to victims of four wildfires that occurred in the state between 2015 and 2018. Among the fires covered in the claims is the 2018 Camp fire — California's deadliest blaze — which killed 85 people and destroyed 18,800 structures.

If accepted by a bankruptcy judge, the settlement will go to people who lost loved ones, property, or both, as well as government agencies and attorneys who pressed the claims. Some of the blame for the fires has been directed at faulty or aging PG&E equipment.

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"There have been many calls for PG&E to change in recent years," said Bill Johnson, the CEO and president of PG&E. "PG&E's leadership team has heard those calls for change, and we realize we need to do even more to be a different company now and in the future. We will continue to make the needed changes to re-earn the trust and respect of our customers, our stakeholders, and the public."

The settlement comes after the company agreed to a $1 billion deal with cities, counties, and other public entities, as well as an $11 billion agreement with insurers and others covering claims for wildfires in 2017 and 2018. Victims seeking compensation will have until the end of the year to file claims. Read more at NBC News and NPR.