PG&E Concord Office To Close Amid Move To Oakland

Concord CA

09 June, 2020

6:22 PM

Description

CONCORD, CA — The Pacific Gas & Electric Co. announced plans to close its Concord satellite office amid its planned relocation from San Francisco to Oakland in 2022. PG&E plans to consolidate the Concord office at 1850 Gateway Blvd. and the San Ramon office at 3401 Crow Canyon Road into its new Oakland headquarters at 300 Lakeside Drive, PG&E said Monday in a statement. The move should be completed by 2023. The relocation is a cost-cutting measure that PG&E expects will bring some short-term relief from the sale of its San Francisco headquarters and significant long-term savings. PG&E has been based in San Francisco for 115 years. There will be no layoffs as a result of the consolidation, a PG&E spokesperson said Monday. The announcement came on the same day that U.S. District Judge Dennis Montali took PG&E's $58 billion bankruptcy exit plan under advisement after completing an eight-day confirmation hearing. PG&E is seeking Montali's approval for the plan before a June 30 deadline for its participation in a wildfire insurance fund established by the state Legislature to cushion utilities' liability in the event of future catastrophic wildfires. The new headquarters "is a critical part of fulfilling our commitment to operate in a fiscally responsible way that will enable us to achieve our operational and safety goals," Interim Chief Executive Officer Bill Smith said in a statement. Read more: PG&E To Move Headquarters To Oakland Bay City News Service contributed to this report.