Pacific Gas & Electric has reached a $125 million settlement agreement with California regulators over the destructive Kincade fire, which was ignited in 2019 by the utility's equipment in a remote area of Sonoma County PG&E shareholders would pay a $40 million fine to the state general fund and spend another $85 million in the removal of abandoned transmission equipment throughout the utility's territory as part of the agreement expected to be approved by the California Public Utilities Commission at its Dec. 2 meeting, the Press Democrat reported Wednesday.