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$120 million settlement reached in SoCalGas leak case

Xavier Becerra
Xavier Becerra at a press conference. Photo: Josh Edelson/AFP via Getty Images

Southern California Gas Company reached a $120 million settlement with both the county and state government after a gas leak at a storage facility in October 2015 that allowed natural gas to flow into the air for months, Attorney General Xavier Becerra announced on Wednesday.

The big picture: The settlement still needs approval from the Los Angeles Superior Court, but if given the green light it would create a new internal safety committee, retain an ombudsman, and shift costs on paying the settlement away from the company's local ratepayers.