San Francisco’s board pushes to buy PG &E’s assets after months of outrage over outages and soaring bills. The city offered $2.5 billion in 2019, was rebuffed, and now submits a $3.4 billion valuation. PG &E claims the bid understates infrastructure value and ignores future separation costs for the city’s public‑ownership push.

Owners like Pizza Joint’s Joe Dabit cite PG &E’s $19.8 million CEO pay and $1.45 billion shareholder dividends as evidence of profit‑driven pricing. Dabit said his $2,500 offer barely covered his bill, forcing him to threaten legal action. Critics argue that a municipal takeover could cut rates by 15‑20 % in a decade for residents and small businesses.

PG &E argues its infrastructure costs—$6.17 billion spent on wildfire prevention in 2024—are outside San Francisco’s scope, while opponents note that city ratepayers subsidize upgrades across Northern California. Economist Jim Lazar estimates a public‑owned model would lower operating expenses through cheaper debt and lower executive pay, potentially reducing future ratehikes for the next decade of service today.