Follow-Up: PG&E Tells State Regulators a San Francisco Takeover of Its Grid Would Cost $22.5 Billion
Pacific Gas and Electric Company (PG&E) on Tuesday submitted formal testimony to the California Public Utilities Commission (CPUC) putting the cost of a proposed City and County of San Francisco takeover of its San Francisco electric distribution grid at $22.5 billion, more than six times the $3.4 billion the city cited in an April filing. GSM reported on October 20 that PG&E's chief executive had publicly priced the grid at about $20 billion against the city's $3.4 billion offer; Tuesday's filing is the company's formal figure to regulators.
PG&E's filing values its San Francisco grid assets at $13.9 billion and puts physical separation and business-loss costs at $8.6 billion. The company said a separation would require a replacement substation, likely in San Mateo County, a new service center and reconfigured or new power lines to maintain service for customers outside the city, and that the city had undervalued its underground network and excluded more than 2,000 real-estate interests, including easements and licences, from its estimate.
"A government takeover of our grid is not the right solution for our San Francisco customers," PG&E chief executive Patti Poppe said, adding that the filing showed a takeover did not make financial sense for customers. PG&E said it has invested $3 billion in San Francisco's grid over the past decade and plans nearly $2 billion more over the next five years. California regulators have already ruled that the city must pay "the highest value" a hypothetical buyer might pay for the assets. The CPUC did not immediately respond to a request for comment.
San Francisco accounts for about 5% of PG&E's electricity demand, while the utility's entire electric system is worth about $60 billion, said Nancy Crowley, spokesperson for the San Francisco Public Utilities Commission. The city has proposed taking over the local network citing long-term cost savings, service reliability and affordability.
Published by GSM · USA (original Chinese edition)
Photo: 位于旧金山 Mission 街的 PG&E Mission 变电站。图：Beyond My Ken 作，CC BY-SA 4.0，经维基共享资源。
- 2026-10-20San Francisco: City's $3.4 Billion Offer for PG&E Assets Collides With Utility's $20 Billion Valuation
- 2026-10-21Follow-Up: PG&E Tells State Regulators a San Francisco Takeover of Its Grid Would Cost $22.5 BillionThis story
