PG&E has finalized a $985.5 million acquisition of its Oakland headquarters tower and an adjacent property, aiming for operational efficiency to save costs for its customers. The purchase includes the 28-story office building and a mixed-use development and complements the sale of PG&E's former headquarters in San Francisco for $800 million. The company predicts achieving $400 million in savings from operating solely out of this single location, which will allow them to moderate rising bills for customers over the next five years.
PG&E has completed a nearly billion-dollar purchase of its downtown Oakland headquarters tower and an adjacent property in a deal the utility giant hopes will help save money for its customers.
The utility titan has estimated that it would be able to save $400 million through a more efficient operation in a single office tower.
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