PG&E Submits Testimony to California Regulators Outlining $22.5 Billion Cost of Government Grid Takeover in San Francisco
PR Newswire•21/10/2026•09:00 ET
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Key Highlights
- ➤PG&E estimates San Francisco grid takeover costs at $22.5 billion
- ➤PG&E values San Francisco electric and real-property assets at $13.9 billion
- ➤Business severance damages total $7.6 billion, plus $1 billion separation costs
- ➤PG&E plans nearly $2 billion in reliability investments over the next five years
- ➤PG&E is investing $370 million in San Francisco reliability upgrades in 2026
Expert Statements
Patti Poppe, CEO of PG&E Corporation
“A government takeover of our grid is not the right solution for our San Francisco customers. We have decades of specialized expertise operating San Francisco's complex electric system. And now our filing shows that a takeover doesn't make financial sense for customers.”
Patti Poppe, CEO of PG&E Corporation
“My coworkers and I love serving San Francisco. San Francisco's expectations are high, and we intend to measure up. We have 600 people who serve you every day and if San Francisco were to take over PG&E's assets, those people would leave the city and go work on other parts of our system. It saddens me to imagine a day when a whole convoy of blue and white trucks drives across the Bay Bridge heading to Oakland, never to come back. I don't think that's in San Francisco's best interest.”
PG&E Submits Testimony to California Regulators Outlining $22.5 Billion Cost of Government Grid Takeover in San Francisco PR Newswire
Filing Includes $8.6 Billion in Business Severance Damages and Physical Separation Costs that the City's Valuation Does Not Yet Address
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