PG&E's decision to terminate a significant electrification project serving CSU Monterey Bay has surprised stakeholders who believed the initiative aligned with California's climate goals and long-term safety needs. The utility's justification for the cancellation included time constraints, unforeseen costs associated with asbestos, and financing disagreements among parties. Stakeholders like Hayley Goodson argued that financial factors played a pivotal role since the project costs would burden university assets instead of PG&E’s capital investments, which could financially benefit the company through regulated returns on infrastructure spending.
In their application, the utility wrote that the project "represents a unique opportunity to address customer safety needs, long-term rate affordability, customer energy preference, and alignment with California's climate goals," in other words, a win-win-win-win.
However, the appliances at CSU Monterey Bay would not be owned or maintained by PG&E. They would be property of the university, even though the utility would initially buy and install them.
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