San Francisco Makes $2.5B Offer For PG&E Power Lines

Law360 (September 9, 2019, 12:24 PM EDT) -- The city of San Francisco has made a $2.5 billion offer to buy bankrupt utility Pacific Gas and Electric’s power lines serving the city.

City officials said Sunday — the day before the expected unveiling of San Francisco-based PG&E's plan to emerge from Chapter 11 — that they had sent a purchase offer to the utility for its electrical lines and associated infrastructure.

“The offer we are putting forth is competitive, fair and equitable. It will offer financial stability for PG&E, while helping the city expand upon our efforts to provide reliable, safe, clean and affordable electricity to the residents and...

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