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After 115 years of having its headquarters in San Francisco, PG&E announced last month it will move to Oakland beginning in 2022. The move to the new base at 300 Lakeside Drive will be completed in 2023, the utility said.
PG&E, now in the final phase of Chapter 11 bankruptcy proceedings, said it expects the move to reduce its costs.
The new headquarters “is a critical part of fulfilling our commitment to operate in a fiscally responsible way that will enable us to achieve our operational and safety goals,” Interim CEO Bill Smith said in a statement.
PG&E also plans to close down its San Ramon satellite office at 3401 Crow Canyon Road, beginning in 2025 in order to consolidate it into the new Oakland headquarters. A move PG&E officials say will “simplify its Bay Area real estate footprint and lower its operating costs.”
The announcement came on the same day that U.S. District Judge Dennis Montali took PG&E’s $58 billion bankruptcy exit plan under advisement after completing an eight-day confirmation hearing.
PG&E filed for Chapter 11 bankruptcy protection, which enabled it to freeze its debts temporarily, in January 2019 in the face of billions of dollars of claims for wildfires in the North Bay in 2017 and Butte County in 2018.
Editor’s note: Story by Bay City News Service, with DanvilleSanRamon.com reporter Ryan J. Degan contributing local information.
By Bay City News Service
By Bay City News Service
By Bay City News Service
