SAN FRANCISCO, Calif. — With PG&E facing bankruptcy the utility may be getting some assistance from the city of San Francisco. The city is offering to buy PG&E's power grid and other infrastructure in the city for $2.5 billion.
The deal doesn't include the utility's natural gas system but Mayor London Breed said they believe this deal will offer financial stability to PG&E. The company is facing billions of dollars in claims over wildfires started by its equipment. PG&E has filed a proposal for a $17.9 billion bankruptcy exit plan with a federal court although in a statement the utility said selling assets to San
Francisco would not be in the best interest of the company.