It’s a public company, not run directly by the government. It has a monopoly dictated by the CA government.
replyThey have no interest in doing good service but instead in making money. They don’t have to really answer to anyone. Supposedly the CA government could implement things to improve the lives of Californians that would influence how PG&E operates but CA politicians are bought off by this corporation. So, there we have it
PG&E is a utility. The amount of profit they make is decided by the state regulators. And the idea that PG&E buys CA politicians is laughable. The state worker's unions pension funds control CA state politics. They are the ones that donate the most money, PG&E doesn't even get a seat at the metaphorical table.
replyPS The largest and 3rd largest holders of US equity are those CA public sector union pension funds. They have far deeper pockets than PG&E by at least 10x.
> The amount of profit they make is decided by the state regulators
replyWhich set things up so the money PG&E makes is a linear function in the money PG&E wastes. -- the regulations set a fixed profit margin, so to make more money PG&E need simply waste more money and pass the cost onto the public which is exactly what they are doing.
The rates that PG&E charges are also decided upon by the regulators. So no, what you say isn't correct. In fact, the people who decided to cut the tree trimming budget, those were appointed state regulators. And that decision led to the increase in fires.
replyThey have worst of both worlds with California-tier corporate culture and Californian politics.
replyGreed and no competition.
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