PacifiCorp wildfire payouts near $1.7 billion
Utility denies negligence in not shutting off power lines
PacifiCorp has warned of potential liquidity strain
By Jonathan Stempel
Nov 19 (Reuters) - PacifiCorp, owned by Warren Buffett’s Berkshire Hathaway (BRKa.N) , said on Wednesday it reached a $150 million settlement with 1,434 plaintiffs who blamed the utility for starting the 2020 Labor Day weekend wildfires in Oregon.
The payout boosts the amount PacifiCorp has agreed to pay wildfire claimants to close to $1.7 billion, including a $125 million settlement last month with 93 Oregon wineries and vineyards.
PacifiCorp has set aside $2.85 billion for litigation over wildfires that burned more than 2,000 structures and 500,000 acres in Oregon and northern California. It still faces tens of billions of dollars of claims.
The Portland, Oregon-based utility has denied victims’ accusations that it was negligent in failing to shut off power lines during a windstorm. Oregon and the U.S. government are also suing PacifiCorp over damage to natural resources.
George McCoy, a lawyer representing plaintiffs, in a press release issued by PacifiCorp called the settlement “reasonable.”
PacifiCorp has faced a series of “mini-trials” in the so-called James litigation, which accounts for most remaining wildfire claims. In a November 3 regulatory filing, PacifiCorp said a Multnomah County, Oregon judge’s recent decision to roughly quadruple the pace of trials “will cause significant financial strain” on liquidity and could threaten the utility’s investment-grade status.
PacifiCorp had no immediate additional comment.
“The vast majority of Oregonians impacted by PacifiCorp’s fires are still waiting for the company to do the right thing,” lead counsel for plaintiffs in the James litigation said in a statement.
PacifiCorp’s immediate parent is Berkshire Hathaway Energy, which is a unit of Buffett’s Omaha, Nebraska-based conglomerate.

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PacifiCorp, owned by Warren Buffett's Berkshire Hathaway, reached a $150 million settlement with 1,434 plaintiffs over the 2020 Oregon wildfires. This brings total payouts to nearly $1.7 billion. The utility denies negligence and faces further claims, with potential liquidity strain threatening its investment-grade status. Oregon and the U.S. government are also suing PacifiCorp for natural resource damage.

- PacifiCorp has reached a $150 million settlement with 1,434 plaintiffs over the 2020 Labor Day wildfires, bringing total payouts to nearly $1.7 billion.  
- The utility has denied negligence claims regarding its power lines and has set aside $2.85 billion for ongoing wildfire litigation, facing potential tens of billions in additional claims.  
- A recent court decision to expedite trials may strain PacifiCorp's finances and threaten its investment-grade status, as many affected Oregonians await further compensation.  

Buffett-owned utility reaches $150 million Oregon wildfire settlement