"The move would lower costs for customers and shift the company’s priorities away from paying dividends to shareholders, they wrote."
"Twenty-two mayors, as well as other city leaders, from across Northern California are behind a bold proposal to turn the region’s troubled Pacific Gas & Electric into a publicly owned cooperative.
In a letter to the California Public Utilities Commission shared Tuesday, the mayors and city supervisors argued that PG&E ― beset by massive bankruptcy and public outrage over its role in deadly wildfires and mismanaged forced power outages ― would function better as a customer-owned utility than a business focused on paying dividends to its shareholders.
The letter, organized by San Jose Mayor Sam Liccardo, comes as PG&E’s fate rests in the hands of a federal bankruptcy judge, though the CPUC must vote to approve any final reorganization plan submitted to the court."
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