A government takeover of PG&E’s grid in San Francisco comes with a whopping $22.5 billion price tag, the company told state regulators on Tuesday.
PG&E said in testimony to the California Public Utilities Commission, which determines the value of the company’s assets, that the move to a government-run utility would incur costs of $13.9 billion for electric and property assets in the city, $7.6 billion in damages for business severance and $1 billion for physical separation severance.
The costs are significantly more than San Francisco’s earlier valuation of around $3.4 billion, which the company said only includes fair-market value of assets…