PG&E values public takeover of San Francisco grid at $22.5B, far above city's estimate (PCG:NYSE)

PG&E valued a proposed San Francisco grid takeover at $22.5B, including $13.9B for assets and $7.6B in severance damages. The city's April 2026 petition estimated the grid's value at $3.4B. PG&E plans to invest $370M in San Francisco in 2026, with $2B over five years. PG&E Corporation (PCG) is the parent company.

Pacific Gas and Electric Company (PG&E) estimates a San Francisco grid takeover would cost $22.5B, including $13.9B in fair-market value and $8.6B in severance and separation damages, according to a filing with the California Public Utilities Commission (CPUC).

PG&E submitted a filing to California regulators estimating a $22.5 billion cost for a proposed government takeover of its San Francisco electric grid. The company values its assets at $13.9 billion, including $8.6 billion in severance damages, significantly higher than CCSF's $3.4 billion estimate. PG&E argues the takeover would burden San Francisco customers with decades of debt and undermine reliability.

PG&E estimated the cost of a proposed San Francisco government takeover of its electric grid at $22.5 billion, significantly higher than the city's $5.3 billion offer. The utility's filing includes asset valuation, physical separation costs, and lost revenue for statewide energy programs. PG&E claims CCSF undervalued its assets and would incur additional startup costs.

PG&E filed a 1,164-page document with the California Public Utilities Commission, stating a $22.5B price for San Francisco to acquire its grid. The company cited lost revenue, damages, and asset valuation discrepancies. San Francisco officials previously deemed PG&E's $20B estimate absurd. The city has explored takeovers before, with all past attempts failing. PG&E's valuation includes $8.6B in damages for grid separation and business severance.

Pacific Gas & Electric (PG&E) cut power to nearly 70,000 customers across 25 California counties to reduce wildfire risks. The shutoffs, among the largest in years, affected areas like Calaveras, El Dorado, and Tuolumne counties. PG&E opened resource centers and distributed care packages, while residents questioned the timing of the outages. The utility expects the weather system to persist through Saturday, with power restoration dependent on line inspections.