SF SETS $3.4 BILLION PRICE TAG FOR PUBLIC TAKEOVER OF PG&E

Acquiring the land, rights and equipment needed for a public takeover of PG&E will cost nearly a billion dollars more than San Francisco had previously offered to the utility, according to the city’s newly revised estimate submitted to state regulators.

The new $3.4 billion valuation comes after the city had twice offered PG&E $2.5 billion for the utility's assets, starting in 2019. Both times, PG&E officials dismissed the offers as too low. The utility has yet to make a counteroffer, however, maintaining a public takeover isn’t in the best interest of the utility or its customers.

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