After months of bankruptcy and settlement negotiating, Pacific Gas & Electric (PG&E) (PCG  ) will plead guilty to 84 counts of involuntary manslaughter and one felony count of unlawfully causing a fire. This plea agreement comes days after the utility accepted tighter regulations and oversight and pledged billions of dollars to improve equipment safety and help wildfire victims. The plea was expected to be made Friday, but due to court closings, the date has been rescheduled for April 24.

The charge of unlawfully causing a fire "includes three special allegations for PG&E's causing great bodily injury to a firefighter; causing great bodily injury to more than one surviving victim; and causing multiple structures to burn," according to Butte County District Attorney Mike Ramsey.

The plea agreement stipulates that PG&E must pay the maximum fine of roughly $3.5 million. This is on top of the $500,000 paid to the Butte County District Attorney Environmental and Consumer Protection Trust Fund to cover investigation costs.

"Other agreements with the company included having a federally-appointed court monitor of PG&E's safety performance report to the Butte County District Attorney for the next two years," Ramsey's office said.

On Nov. 8, 2018, PG&E equipment sparked the Camp Fire that decimated Northern California for half a month. The Camp Fire was the most destructive in the state's history with more than 150,000 acres burned and 18,000 buildings destroyed. Original counts linked 85 deaths to the fire, but later investigations led to that number being lowered to 84.

"Our equipment started the fire. Those are the facts, and with this plea agreement we accept responsibility for our role in the fire," PG&E President Bill Johnson said.

PG&E, the company responsible for the utilities of millions of Californians, filed for bankruptcy in early 2019. At that time, PG&E faced $30 billion in liabilities and lawsuits from the Camp Fire and other blazes started in the state. The company must emerge from bankruptcy by June 30, 2020, or the business must be put up for sale. If the utility doesn't emerge from bankruptcy before then, they also won't qualify for $21 billion in wildfire insurance.

"We are working diligently to get our Plan of Reorganization approved by the Bankruptcy Court as soon as possible, so that we can get victims paid," Johnson said. "We will emerge from Chapter 11 as a different company prepared to serve California for the long term."

The guilty plea has met with mixed responses from victims of the fire.

"What's gonna change? What's the punishment?" said Paradise Town Councilor Mike Zuccolillo, who lost his home in the fire. "To me, punishment is supposed to correct an action. Is this going to correct an action? I think the people it will have the impact on are the families who lost people. The community as a whole is probably one step closer to healing."

According to NBC News, PG&E has paid settlements amounting to roughly $25.5 billion for victims of fires started in 2015, 2017, and 2018. The district attorney's office found that a speedy deal was the best way not to "jeopardize the company's ability to pay victims", according to the settlement.