SAN FRANCISCO, CALIFORNIA - The City of San Francisco is looking to buy the power distribution lines and other electrical system infrastructure of Pacific Gas and Electric (PG&E), which filed for bankruptcy in January 2019.

The utility has received a bid of $2.5 billion from the Californian city for its power lines and other electrical system infrastructure in San Francisco.

"We all agree on the importance of continuing to serve the citizens of San Francisco with safe, clean, affordable and reliable energy, said PG&E spokeswoman, Karly Hernandez.

"PG&E has been a part of San Francisco since the company's founding more than a century ago, and while we don't believe municipalization is in the best interests of our customers and stakeholders, we are committed to working with the City and will remain open to communication on this issue," added Hernandez.

As of January 2019, the company claimed to have 171,686 km of power distribution lines and also 29,718 km of interconnected transmission lines.

Source: NS Energy