PG&E Corp. disclosed in a securities filing yesterday that it expects to take a fourth-quarter charge of $4.9 billion in connection with a new $13.5 billion deal to settle claims from wildfire victims, the Wall Street Journal reported. The new charge, which PG&E expects to take by year’s end, would raise the company’s total recorded fire-related charges to over $25 billion. The higher amount reflects the increase over the $8.4 billion PG&E initially offered to resolve wildfire victim claims, which stem from more than a dozen fires linked to the company’s equipment in recent years. The victims settlement agreement unveiled Friday would remove a substantial roadblock to PG&E’s emergence from bankruptcy, even as it puts additional strain on its balance sheet. PG&E shares were up more than 18 percent yesterday following news of the deal.
