San Jose Calls for Consumer Takeover of PG&E

San Jose Mayor Sam Liccardo is leading a coalition of 21 cities and five counties seeking to transform PG&E into a ratepayer-owned cooperative. In a letter to the California Public Utilities Commission this week, the group expressed skepticism that the troubled utility can emerge from bankruptcy as a creditworthy entity if it remains investor-owned. Instead, the coalition proposed a consumer takeover to enable PG&E to raise capital more efficiently, without having to pay dividends to shareholders. We’ll talk to Mayor Liccardo about the plan.