PRESS RELEASE: City of San Francisco Testifies in PG&E Bankruptcy Case: Utility Taking on Too Much Debt to Meet State Wildfire Law Requirements, Will Need to Raise Rates to Stay Solvent
February 26, 2020
In its new reorganization plan, PG&E outlines strategy for emerging from bankruptcy with $35.4 billion in debt—65% more debt than the company holds today.
This high level of financial instability will prevent PG&E from meeting the requirements of “ratepayer neutrality” in AB 1054—unless the company can find new funding sources.
PRESS RELEASE: San Francisco Continues its Advance Toward Public Power—Launching Our City, Our Power Campaign
February 11, 2020
The Our City, Our Power campaign will showcase the benefits of the City’s multi-billion-dollar offer to purchase PG&E assets and absorb the costs of one of the state’s oldest electric systems—allowing PG&E to make needed statewide investments in safety and reliability
SF CHRONICLE: Three years in, SF power program reaping cost, environmental benefits
Dominic Fracassa | January 1, 2020
San Francisco has managed to reap some considerable environmental and economic benefits since launching its duo of municipal electricity just over three years ago — CleanPowerSF and Hetchy Hetchy Power — according to new data from the city’s Public Utilities Commission, which runs both programs.
SF CHRONICLE OPEN FORUM: Now is the time for SF energy independence
By Mayor London N. Breed and City Attorney Dennis J. Herrera | October 11, 2019
San Franciscans deserve safe, reliable and affordable power.
They deserve better than the status quo. That is why San Francisco’s leadership is united as we put forth a fair, equitable and competitive offer to buy PG&E’s electrical distribution assets that serve our city.
We recognize this is a big step, and we are proceeding carefully. We are also committed to this endeavor over the long term because it is in the best interests of all San Franciscans.