India, Oct. 21 -- Pacific Gas and Electric Company (PCG) on Wednesday said a proposed government takeover of its electric distribution grid in San Francisco would cost $22.5 billion, significantly higher than the $3.4 billion estimated by the city in April.
In a filing with the California Public Utilities Commission, PG&E valued its electric and real estate assets in San Francisco at approximately $13.9 billion, compared with the city's valuation. The company also estimated $8.6 billion in business severance damages and physical separation costs.
PG&E said the takeover would require separating San Francisco's grid from its wider network, including building a replacement substation, establishing a new service center and reconfiguring power...