Christchurch lines company Orion and insurer IAG have reached a financial settlement over the 2017 Port Hill fires.
This brings an end to the Christchurch High Court hearing alleging a dodgy Orion fuse link overloaded and sparked causing a fire in the hot summer sun.
The fires burned for 66 days, spreading across 1600 hectares, destroying nine homes and damaging five others.
Port Hills resident Chris Bailey says the settlement is a great relief.
"A real milestone in our recovery and restoration of the property and getting back to real-life without having to worry about this any further," he says.
"We've been through a lot of stress and anxiety for the past three years."
The plaintiffs were trying to recover nearly $15 million of losses, $6m of which was uninsured.
Orion released a statement on Tuesday confirming the confidential settlement but said it's without any admission of liability by the company. It said it's confident in the integrity and safety of its network.
Chief executive Rob Jamieson resigned last night - the company insisted the two matters are unrelated.
"The Port Hill fires had tragic consequences and Orion extends its deepest sympathies to all those affected," he said.
"Orion continues to be confident in the integrity and safety of its network. The company strives at all times to manage its network competently and efficiently in the interests of those who rely on electricity, and the community more generally."
