Deals
San Francisco May Make PG&E a Multibillion-Dollar Offer in Weeks
- City report supports acquisition of PG&E system serving city
- Deal would eliminate ‘roadblocks’ of working with PG&E: report
A Pacific Gas & Electric Co. (PG&E) employee works out of a truck in Paradise, California, U.S., on Tuesday, Jan. 22, 2019.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
San Francisco may make a multibillion-dollar bid within months for some assets owned by California power giant PG&E Corp.
Mayor London Breed told the utility owner in March that the city may submit a formal offer for its electric distribution system in San Francisco “within the coming months” if the acquisition proves feasible, the San Francisco Public Utilities Commission said in the report Monday. The agency estimated that the fair market value of the assets is “in the range of a few billion dollars.”