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San Francisco offers to buy PG&E wiring in City



San Francisco said Sunday that it has offered $ 2.5 billion to acquire PG&E Corp.'s electric lines that serve the city, a potential first step toward separating from the gigantic utility.

The offer escalates San Francisco's attempt to create a municipal utility owned and operated by the city. The city began investigating the possibility of a public takeover after PG&E sought Chapter 11 for bankruptcy protection in January, citing more than $ 30 billion in potential liability costs as a result of its role in triggering deadly …


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