PG&E Lays Out Plan to Sell Stake in Generation Capacity
Sept. 29, 2022
PG&E Corp. executives have sketched out a plan to house the company’s non-nuclear generation assets in a new subsidiary, stakes in which could be sold to fund future safety and reliability investments.
Representatives of the company’s Pacific Gas and Electric Company utility on Sept. 28 filed an application with the California Public Utilities Commission to separate its non-nuclear plants into the newly formed Pacific Generation LLC. That subsidiary would be a CPUC-regulated utility with a 2023 rate base of about $3.5 billion, about 7% of the company’s total, and remain dedicated to PG&E’s customer base of more than 16 million people in Northern and Central California.