A simplistic napkin math computation says that the cost delta in electricity between what Santa Clara pays and what PG&E customers pay, times the amount of electricity that LAH residents consume would pay for the entire undergrounding in 5-6 years.
So to my mind, it seems like a simple argument in favor of a municipal power utility that charges PG&E rates until it pays off its infrastructure, and then charges a more reasonable rate thereafter. Of course this assumes that LAH could achieve Santa Clara levels of cost efficiency, but it doesn't seem crazy either.
Too bad the deadline has passed for nomination for LAH Town Council. You should run next time ;)
More likely, though, is that smaller and newer utilities are likely to be more nimble than the big behemoth that has lots of tech debt and internal and external bureaucracy.
https://www.pge.com/en_US/residential/rate-plans/how-rates-w...
There's an effort to underground the utilities near Foothill College by tapping into Santa Clara County Fire's funds for improved fire safety, since they're allowed to use these funds in that specific location.