PG&E Headquarters Shifting to Oakland

October 26, 2019 San Francisco / CA / USA – Close-up of the PG&E (Pacific Gas and Electric Company) mark on their historic headquarters in downtown San Francisco. (Shutterstock image)

The San Francisco Chronicle reports that Pacific Gas & Electric has agreed to sell its headquarters in San Francisco for $ 800 million. The giant utility company is seeking permission to return half of the proceeds to customers. With approval from the California Public Utilities Commission, PG&E plans to distribute up to $ 420 million to customers over the next five years to offset future customer tariffs. PG&E plans to move to new headquarters in Oakland.