Frustrated by PG&E Corp.’s California blackouts and its existing options for exiting bankruptcy, the mayor of the state’s third-biggest city is proposing something radically different: turn the company into the nation’s largest customer-owned utility. San Jose hopes to persuade other California cities and counties in coming weeks to line up behind the plan, which would strip PG&E of its status as an investor-owned company and turn it into a nonprofit electric-and-gas cooperative, Mayor Sam Liccardo said in an interview.

Source: Wall Street Journal October 21, 2019 19:07 UTC