Newsom ‘Not Convinced’ California Wants to Take Over PG&E

California Governor Gavin Newsom said he doesn’t see the state having the appetite to take over PG&E Corp., which has come under criticism recently for blackouts that hit San Francisco.

“I’m not convinced” the state wants to get into the utility business, Newsom said during an event in San Francisco hosted by Bloomberg News.

Newsom previously weighed a possible takeover of PG&E during negotiations over the company’s restructuring after it filed for bankruptcy in 2019 due to billions of dollars of wildfire liability claims. More recently, some elected officials in San Francisco have renewed calls to take over ...