Buyers May Be Wary Of Climate-Driven PG&E Asset Sale

Law360 (January 8, 2021, 2:03 PM EST) -- On Dec. 1, 2020, PG&E Corp. announced that it will sell its Pleasant Creek natural gas storage field, has retained an investment banker and is now publicly soliciting bids. But who will buy the 400 acres of land located between Sacramento and the Bay Area, near Lake Berryessa?

Located partly in the city of Winters and partly in unincorporated Yolo County, the Pleasant Creek natural gas storage field started as a production field in 1948. Converted to a storage field in 1960, Pleasant Creek is now used by PG&E for a minuscule 2% of its total storage inventory capacity. The company...

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