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PG&E Trust Fund Underfunded

(AP) – The head of a trust established to pay billions of dollars to victims of wildfires caused by Pacific Gas & Electric equipment is resigning. John Trotter announced Tuesday that he’ll step down as trustee of the PG&E Fire Victim Trust on June 30. The trust was established to provide $13.5 billion to compensate victims of Northern California wildfires in 2015, 2017 and 2018, including the 2018 Camp Fire that killed 85 people. The fires were blamed on PG&E’s long-neglected electrical grid. The trust is run independently but it’s funded by PG&E cash and stock shares, and share prices have sagged, leaving the trust some $2 billion short of full funding.