AP Business Writer
SAN FRANCISCO (AP) — Pacific Gas and Electric has reworked a $13.5 billion settlement with victims of deadly wildfires blamed on the utility to try to prevent it from unraveling after California Gov. Gavin Newsom rejected the company's financial rehabilitation plan.
The revision discussed in a bankruptcy court hearing Tuesday removes a provision requiring Newsom to approve the deal as a key piece of PG&E's plan to emerge from bankruptcy protection by June 30. The company needs to meet that deadline to qualify for coverage in a special fund the California Legislature approved last summer to help insulate utilities from losses caused by future wildfires ignited by outdated transmission lines.
Newsom had jeopardized the pivotal settlement with the