PacifiCorp reaches $575 million settlement over wildfire damage
PacifiCorp settled with the federal government for $575 million to resolve claims from several major wildfires in 2020 and 2022.Summary
PacifiCorp, the parent company of Pacific Power, announced a $575 million settlement with the federal government to resolve federal claims related to damages from several major wildfires. The settlement encompasses losses from the 2020 Labor Day fires – including the 242, Archie Creek, Echo Mountain, Slater, and South Obenchain fires – as well as the 2022 McKinney Fire in Northern California. Ryan Flynn, president of Pacific Power, stated that this agreement represents a significant step in resolving wildfire-related claims, with nearly 90% of known claims, totaling over $2.2 billion, now settled. PacifiCorp emphasized its ongoing investment in wildfire prevention measures, such as improved monitoring technology, enhanced vegetation management, and stronger power systems. The company also expressed its commitment to collaborating with regulators, legislators, and customers to develop long-term solutions for addressing increasing wildfire and extreme weather risks.
(Source：Ktvz)