PG&E sought refuge in bankruptcy in January as it grappled with $36 billion in claims from people who lost homes, businesses and family members in those fires.
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PG&E's stock is surging after the utility reached a tentative $13.5 billion settlement resolving all major claims related to Northern California wildfires of 2017 and 2018.
The chief executive of California's largest utility says it will take about a decade for Pacific Gas and Electric Co. to get to the point where widespread safety outages are not necessary when fire danger is high.
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The utility said in a statement the tentative agreement covers 85% of the insurance claims from fires that include the one that decimated the town of Paradise, California and killed 86 people.
A California utility blamed for igniting several wildfires that killed dozens and destroyed thousands of homes has agreed to pay $1 billion to local governments.
Pacific Gas & Electric says it could be liable for more than $30 billion in property losses and other costs associated with wildfires in California last year and in 2017.