PG&E to pay $1 billion for wildfire damage Unlisted Video

(CNN)A utility blamed for igniting deadly wildfires that killed dozens in California has agreed to pay $1 billion in damages to local governments for blazes linked to its power lines, poles and other equipment. Pacific Gas and Electric will pay the funds to more than a dozen state public entities for losses from the deadly blazes sparked by its equipment. The hardest-hit town of Paradise, which was left in charred ruins, will get $270 million to resolve wildfire claims. "The settlement from PG&E will ensure a strong foundation from which to recover from the devastation of the Camp Fire," the statement said.