PacifiCorp Settles $575 Million Wildfire Claims Amid Financial Pressure

Benzinga02-22 02:32

PacifiCorp, which is owned by Berkshire Hathaway, reached a $575 million agreement with the U.S. government on Friday to settle allegations linked to six wildfires in Oregon and California. The blazes...

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The blazes...</p>\n\n<a href=\"https://www.benzinga.com/markets/commodities/26/02/50769793/pacificorp-settles-575-million-wildfire-claims-amid-financial-pressure\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1366333091.USD","symbol_name":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","start_time":0,"source_url":"https://www.benzinga.com/markets/commodities/26/02/50769793/pacificorp-settles-575-million-wildfire-claims-amid-financial-pressure","article_id":"2613324495","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2026/02/21/Berkshire-Hathaway-Logo-Displayed-On-Com.jpeg?optimize=medium&dpr=2&auto=webp&width=260"],"rights":{"source":"benzinga_hot_news","url":"https://www.benzinga.com/markets/commodities/26/02/50769793/pacificorp-settles-575-million-wildfire-claims-amid-financial-pressure","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2613324495","pubTimestamp":1771698720,"columns":[],"sourceInfo":{"source_id":"benzinga_hot_news","name":"Benzinga"},"weMediaInfo":null,"summary":"PacifiCorp, which is owned by Berkshire Hathaway, reached a $575 million agreement with the U.S. government on Friday to settle allegations linked to six wildfires in Oregon and California.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","BK4588":"碎股","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","GE":"GE航空航天","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","BK4187":"航天航空与国防","BK4543":"AI","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4501":"段永平概念","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4585":"ETF&股票定投概念","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","BK4566":"资本集团","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","BK4206":"工业集团企业","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1"},"translate_title":"PacifiCorp在财务压力下解决了5.75亿美元的野火索赔","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GE":0.9},"content_text":"PacifiCorp, which is owned by Berkshire Hathaway, reached a $575 million agreement with the U.S. government on Friday to settle allegations linked to six wildfires in Oregon and California. The blazes burned close to 290,000 acres of federal land and have weighed heavily on the company's financial position. Portland General Electrics recent acquisition of PacifiCorp assets for $1.9 billion is part of a strategic effort to address these financial challenges.\nReuters reports that the settlement addresses accusations of negligence against PacifiCorp, which allegedly allowed its power lines to ignite the fires. The settlement covers five fires from September 2020 and one from July 2022. PacifiCorp, however, has denied liability in this agreement.\nThe $575 million settlement will be used to reimburse firefighting costs and support restoration work by the Forest Service and the Bureau of Land Management. This settlement aims to balance the governments recovery of fire-suppression costs with PacifiCorps ability to continue providing affordable electricity, according to a statement from the Justice Department.\nPortland General Electrics acquisition includes key facilities such as the Chehalis natural-gas plant and several wind farms. This purchase is expected to enhance Portland General Electrics earnings and dividend growth, demonstrating a strategic expansion into Washington state. The acquisition also involves a partnership with Manulife Investment Management, which will hold a minority stake.\nIn total, PacifiCorp has committed over $2.2 billion to settle wildfire-related claims, including this latest agreement. The companys president, Ryan Flynn, highlighted the settlement as part of their commitment to resolving claims while maintaining financial health. The Justice Department initially sought over $900 million in damages, which PacifiCorp is addressing through this settlement.\nReuters reported that the utility is under significant financial pressure, facing about $55 billion in claims related to wildfires that damaged more than 2,000 buildings and burned roughly 500,000 acres. In response, PacifiCorp has agreed to sell assets in Washington state to Portland General Electric to boost its cash position.\nPortland General Electric plans to operate the acquired assets through a new subsidiary regulated by the Washington Utilities and Transportation Commission. This strategic move is anticipated to be accretive in the first full year post-completion, with regulatory reviews expected to conclude within 12 months of filing.\nFinancially, Portland General Electric reported a GAAP net income of $306 million for 2025, with an adjusted net income of $336 million. The company projects adjusted earnings for 2026 to range from $3.33 to $3.53 per share, aligning closely with Wall Street estimates. This outlook is based on anticipated increases in energy deliveries and consistent operational performance.\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2613324495","isCrawlerRequest":true}