PG&E estimates that a San Francisco government takeover of its local grid could cost $22.5 billion. The utility submitted the figure to the California Public Utilities Commission, which is assessing the value of its assets.
PG&E's estimate includes $13.9 billion for electric and property assets, $7.6 billion in business-separation damages and $1 billion for physically separating the systems. San Francisco's earlier valuation was about $3.4 billion; PG&E says that figure covers only the assets' fair-market value.
City Attorney David Chiu disputed PG&E's estimate and said the commission's process would determine the cost. Chiu said the city had experienced 40 large-scale blackouts since an outage last December affected more than 100,000 residents. City officials have also asked state regulators to investigate the outages, fires they say were caused by PG&E equipment, and delayed infrastructure projects.
San Francisco initiated the asset valuation process with a petition to state regulators in July 2021.
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