California regulators have dismissed PG&E’s (PCG) proposal to spin off and sell a minority interest in its power generation arm to raise cash for its operations, Bloomberg’s Mark Chediak reports. The company said last week that it was in discussions to sell the stake in its hydroelectric, natural gas, solar and battery storage facilities to KKR (KKR), adding at the time that the transaction would cut customer rates by $100M over the next 20 years, the author notes.
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