After one hundred and fifteen years, PG&E is leaving The City for The Town.
On Monday, the utility’s parent company, Pacific Gas & Electric Corporation, announced that it will relocate its headquarters and operations from San Francisco to downtown Oakland. The move is a significant cost-saving measure as the company continues to navigate bankruptcy.
The company will sell its current headquarters in San Francisco’s Financial District. It will begin relocating to Oakland’s 300 Lakeside, often refered to as the Kaiser Building, by Lake Merritt in 2022 and finish about a year later. PG&E offices in San Ramon and Concord will also be closed and merged into the new Oakland space.
The sale and the move will first have to be approved by the Bankruptcy Court and the company won’t begin its move until after its bankruptcy is complete.
The utility says that the new location will help save it money in the long run. The new offices will allow for a more flexible layout that could be helpful in our new COVID-19 reality. The move could also result in easier commutes for employees, most of whom already live in the East Bay.