CPUC isn't there just to prevent price gouging. They've already decided a guaranteed return on equity / return on rate base. If the legislators decided tomorrow

CPUC isn't there just to prevent price gouging. They've already decided a guaranteed return on equity / return on rate base. If the legislators decided tomorrow the lines must be buried, and the CPUC allowed the rate hike necessary to do so, PG&E would happily comply. > The PG&E and other investor owned utilities that are essentially granted monopoly status in California are guaranteed a negotiated fair rate of return on equity (ROE). PG&E's ROE rate was set at 10.4% and a return on rate base (ROR) was set at 8.06% by the CPUC in December 2012. https://en.wikipedia.org/wiki/Pacific_Gas_and_Electric_Company#Rates https://en.wikipedia.org/wiki/Pacific_Gas_and_Electric_Compa...