05/09/2010 05:12 am ET Updated May 25, 2011

PG&E Prepared To Spend $35 Million On Prop 16

The state's largest invester-owned utility is prepared to spend up to $35 million to pass a little-publicized measure on the June ballot.

In a statement to shareholders, first reported by Capitol Weekly, Pacific Gas & Electric Co. noted that they were prepared to spend between 6 and 9 cents per share on Proposition 16. That translates to $25 million to $35 million.

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