{"id":24717,"date":"2026-02-04T18:05:21","date_gmt":"2026-02-04T18:05:21","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=856891"},"modified":"2026-02-04T18:05:21","modified_gmt":"2026-02-04T18:05:21","slug":"governor-not-convinced-california-wants-to-take-over-pge","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2026\/02\/04\/governor-not-convinced-california-wants-to-take-over-pge\/","title":{"rendered":"Governor \u2018Not Convinced\u2019 California Wants to Take Over PG&amp;E"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-Bloomberg-580x387.jpg\"><\/p>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2026\/02\/04\/856891.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2026\/02\/04\/856891.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"bloomberg\">California Gov. Gavin Newsom said he doesn\u2019t see the state having the appetite to take over PG&amp;E Corp., which has come under criticism recently for blackouts that hit San Francisco.<\/p>\n<p>\u201cI\u2019m not convinced\u201d the state wants to get into the utility business, Newsom said during an event in San Francisco hosted by Bloomberg News.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p><strong>Related: <a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2026\/01\/20\/854896.htm\">Edison Sues LA County Over Fire Deaths for Delayed Alerts<\/a><\/strong><\/p>\n<p>Newsom previously weighed a possible takeover of PG&amp;E during negotiations over the company\u2019s 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 PG&amp;E\u2019s wires and poles in the city after power outages darkened neighborhoods over the holidays. Separately, gubernatorial candidate and billionaire Tom Steyer has called for the state\u2019s utility monopolies to be broken up after they\u2019ve sharply raised rates.<\/p>\n<figure id=\"attachment_856894\" aria-describedby=\"caption-attachment-856894\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-interview-Bloomberg-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-856894\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-interview-Bloomberg-580x387.jpg\" alt width=\"580\" height=\"387\" srcset=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-interview-Bloomberg-580x387.jpg 580w, https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-interview-Bloomberg-300x200.jpg 300w, https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-interview-Bloomberg-768x512.jpg 768w, https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-interview-Bloomberg-1536x1024.jpg 1536w, https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/02\/California-Gov.-Gavin-Newsom-in-San-Francisco-interview-Bloomberg-2048x1365.jpg 2048w\" sizes=\"(max-width: 580px) 100vw, 580px\"><\/a><figcaption id=\"caption-attachment-856894\" class=\"wp-caption-text\">Gavin Newsom, governor of California, during an interview in San Francisco, California, US, on Thursday, Jan. 29, 2026. Newsom assailed the White House border czar, saying he\u2019s the wrong person to deescalate tensions in Minneapolis spurred by the president\u2019s immigration crackdown.<\/figcaption><\/figure>\n<p>Newsom noted that the state already has the ability to take control of PG&amp;E if the utility fails to meet safety and regulatory standards, a condition agreed upon as part of PG&amp;E\u2019s emergence from bankruptcy. He also noted that the company\u2019s executive pay is now tied to safety metrics.<\/p>\n<p><strong>Related: <a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2025\/09\/30\/840989.htm\">PG&amp;E Investing $73B in Capital Spending Through 2030 to Harden System<\/a><\/strong><\/p>\n<p>\u201cPG&amp;E is a very different company than it was prior to bankruptcy,\u201d Newsom said.<\/p>\n<p><em>Top photo: Gavin Newsom, governor of California, during an interview in San Francisco, California, on Thursday, Jan. 29, 2026. Photographer: David Paul Morris\/Bloomberg.<\/em><\/p>\n<div class=\"copyright-notice quiet\">Copyright 2026 Bloomberg.<\/div>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/location\/california\/\" class=\"btn btn-sm btn-primary tagtag\">California<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"856891\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! Please tell us what we can do to improve this article.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-yes\">\n<form class=\"feedback-form\">\n<p>Thank you! <span class=\"percent\"><\/span>% of people found this article valuable. Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>The most important insurance news,in your inbox every business day.<\/h4>\n<p>Get the insurance industry&#8217;s trusted newsletter<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments California Gov. Gavin Newsom said he doesn\u2019t see the state having the appetite to take over PG&amp;E Corp., which has come under criticism recently for blackouts that hit San Francisco. \u201cI\u2019m&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24718,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[520,995,3,68,1,1423,1904,9],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2026\/02\/governor-not-convinced-california-wants-to-take-over-pge.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24717"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=24717"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/24718"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=24717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=24717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=24717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}