Deals
Growing Group Seeks Local Takeover of PG&E
- More than 110 elected officials are backing a co-op proposal
- Utility wouldn’t be broken up; would set own rates under plan
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More than 110 Northern California city and county officials representing the majority of bankrupt PG&E Corp.’s customers are proposing to turn the utility giant into a customer-owned cooperative.
The coalition led by the city of San Jose includes officials from 58 cities and 10 counties who altogether represent more than 8 million residents, according to a statement from San Jose Mayor Sam Liccardo. The group is proposing, among other things, to continue managing PG&E’s expansive territory as a single system, honor existing power and labor contracts and have a board overseeing the co-op set customer rates.