Environmental & Energy,
Bankruptcy
Feb. 4, 2020
Legislator to offer bill making PG&E publicly owned utility
The bankrupt Pacific Gas & Electric Company would be turned into a publicly owned utility under a bill proposed by a state lawmaker on Monday, but the company emphasized it is not for sale.
SAN FRANCISCO -- The bankrupt Pacific Gas & Electric Company would be turned into a publicly owned utility under a bill proposed by a state lawmaker on Monday, but the company emphasized it is not for sale.
State Sen. Scott Wiener, D-San Francisco, said he would unveil legislation this week that will allow the state to take over PG&E by empowering the California Power Authority to buy all the utility's shares.
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