The city of San Francisco has offered bankrupt power utility PG&E Corp, US$2.5bn for the company’s electrical equipment in the city (US). The offer was deemed too low and then refused by PG&E.
The Targeted Assets would include substantially all of PG&E's distribution assets, 230/115 kV transformings and 115 kV transmission lines located within city limits and other assets.
Another district offered PG&E US$116m for other assets in California’s Central Valley and was also refused.
In January 2019 PG&E filed for reorganisation under Chapter 11 of the US Bankruptcy Code. The firm faces liabilities (estimated at more than US$30bn) in connection with wildfires occurring in Northern California in 2017 and 2018. PG&E provides electricity and natural gas services to approximately 16 million people in northern and central California. It operates 106,681 circuit miles (171,976 km) of electric distribution lines and 18,466 circuit miles (29,718 km) of interconnected transmission lines. As for the gas network, it owns 42,141 miles (67,819 km) of natural gas distribution pipelines and 6,438 miles (10,360 km) of transmission pipelines.