The California Public Utilities Commission has proposed a $1.68 billion settlement with PG&E Corp. for the role the utility company played in igniting a series of deadly wildfires in 2017 and 2018 that killed more than 100 people.

Under the terms of the settlement included in a filing by the regulator, the company would be required to spend the amount of the penalty on steps to prevent future wildfires. It wouldn’t be allowed to pass those costs on to its customers in the form of higher rates.

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