PG&E has finalized its acquisition of a $985.5 million office tower and adjacent property in Oakland, with plans to enhance operational efficiency. The move, which includes the sale of its former San Francisco location for $800 million, aims to generate estimated savings of $400 million. PG&E intends to pass these savings along to customers over five years, helping to moderate future increases in electric and gas bills. Approximately 7,000 of the utility's workers are based in the new headquarters, highlighting its importance in the company's operational strategy.
Our Oakland headquarters is a critical hub for our operational and innovation progress.
PG&E expects to save $400 million through more efficient operations in a single office tower.
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