Dear Gov. Newsom,

 

Our family of five was part of 71,787 victims of the 2015, 2017, and 2018 North Bay wildfires caused by PG&E.

 

As you know, AB 2700 is currently under consideration in the 2026 legislature and has advanced to the Assembly Floor, where it passed its second reading and was ordered to a third reading. In the latest committee hearings, lawmakers narrowed the bill's focus and the legislation now concentrates on mandating the California Public Utilities Commission (CPUC) to generate a report on verified restitution shortfalls for victims of electrical corporation-caused wildfires prior to July 12, 2019.

 

It requires the CPUC to propose fair, feasible mechanisms for these utility companies (including PGE) to pay victims the remainder of their settlements without passing the costs onto ratepayers.

 

"Fair" settlements are what PGE Bankruptcy Judge Dennis Montali publicly promised to all wildfire claimants during the PGE Bankruptcy process, but the Judge instead ruled that the 71,787 wildfire claimants would receive just 70% of their legally "eligible claims" stating in court that “everybody in a bankruptcy takes a haircut” – that is, every one of the wildfire victims (at 70% of their eligible claims), but not the PGE Hedge Fund investors (who received 100%-plus of their eligible clams) and other claimants and government agencies who received more than the victims.

 

PGE is the 4th largest electric utility in the U.S. In fact, since the PG&E Bankruptcy where PG&E admitted negligence for destroying our home, the PGE Corporation (PCG) reported a total cumulative net income (profit) of approximately $12.38 billion from 2020 through 2025. Since emerging from bankruptcy in 2020, the company has seen steady yearly growth in its net earnings.

 

The annual net incomes reported by the company are as follows:

 

•               2025: $2.593 billion

•               2024: $2.475 billion

•               2023: $2.242 billion

•               2022: $1.800 billion

•               2021: $1.871 billion

•               2020: $1.400 billion

            

Obviously, PGE had/has the financial resources to provide “full restitution” to the North Bay wildfire survivors. That is, obvious to everyone except the 86-year-old 33-year veteran Judge of the United States Bankruptcy Judge for the Northern District of California, whose current term expires in April 2035 when the Judge would be 95 years-old – just a month shy of his 96th birthday. Unlike every other business or government agency that have age or retirement requirements, such standards don’t apply to Bankruptcy Judges who can keep their jobs forever without any physical or lucidity requirements or qualifications.

 

As mentioned, the PGE Bankruptcy Judge stated several times that wildfire victims would be treated “quickly” (we’re still waiting for our last pro rata settlement payment – 6 years-plus) and “fairly” (if a 30% financial “haircut” just to victims as the Judge declared it) is fair by any standard.

 

Governor Newsom, please confirm that you will support and sign into California law AB 2700 that would provide “full restitution” to the 71,787 wildfire victims of the 2015, 2017, and 2018 North Bay wildfires. Of course, not from California Taxpayers, but from the healthy financial largesse in PGE’s coffers.

 

Thank you,

The Stalcup Family

(I’m sure we speak for tens of thousands of other North Bay wildfire victims.)