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Business & Technology

San Francisco: $2.5 Billion Bid For PG&E's Electric System

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San Francisco: $2.5 Billion Bid For PG&E's Electric System

2019-09-09 03:08:401 Oct 2018 01:53 AM EST

FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. REUTERS/Elijah Nouvelage NEW YORK (Reuters) - The city of San Francisco has offered to buy PG&E Corp’s power lines and other electrical system infrastructure serving the city for $2.5 billion, according to the San Francisco Chronicle. The company was facing more than $30 billion in liabilities from wildfires in California in 2017 and 2018, including November’s Camp Fire, the deadliest and most destructive wildfire of the state’s modern history.

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