Calling for the breakup of the embattled utility, a small group of protesters demonstrated in front of Pacific Gas & Electric’s corporate headquarters in downtown San Francisco on Monday morning, closing down a stretch of Beale Street and blocking employees from entering the building.
As police stood watch, activists hoisted banners that read “Governor Newsom, we need #POWERTOLIVE.”
The rally, organized by the grassroots group Color of Change, was intended “to tell this for-profit, Wall Street utility to get out of the households of vulnerable communities,” according to an online message posted by the group.
The demonstration comes amid growing demands to turn PG&E over to public ownership in the wake of deadly fires, bankruptcy proceedings and recent massive blackouts all linked to the investor-owned utility.
In a statement responding to the protest, PG&E said, “Our employees are hard at work today and focused on providing our customers with safe, reliable, clean and affordable energy; reaching a fair settlement with wildfire victims; and emerging from bankruptcy as the utility that our customers want and deserve.”
The protest comes days after another setback for the utility.
Ted Goldberg on Twitter This has led police to block vehicle traffic on to Beale Street from Market.
On Friday, Gov. Gavin Newsom rejected PG&E’s bankruptcy plan, part of a $13.5 billion settlement struck with thousands of people who lost homes, businesses and family members in a series of devastating fires sparked by the company’s equipment.
Shares for PG&E are down 15.8% Monday after news of Newsom’s rejection.
PG&E needs to craft a deal with the state before it can draw from a special fund created to help insulate utilities when their equipment sparks other catastrophic fires. U.S. Bankruptcy Judge Dennis Montali would have to approve a settlement by Dec. 20 for the deal to become part of PG&E’s official plan to regain its financial footing.
The Associated Press contributed to this report.
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