San Francisco sets $3.4B price tag for public takeover of PG&E

San Francisco sets $3.4B 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…