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PG&E can’t afford to do that without raising capital. CPUC won’t approve rate hikes to finance that capital. Legislators pass no new laws or regulations. Then
by dahdum 8y ago
PG&E can’t afford to do that without raising capital.
CPUC won’t approve rate hikes to finance that capital.
Legislators pass no new laws or regulations.
Then when it goes awry CPUC and legislators stand far back and decry PG&E for negligence.
- bleriot 8y agoThey could afford to pay out a regular dividend, illegally skipped safety measures on pipelines, and “an independent audit from the State of California issued a report stating that PG&E had illegally diverted over $100 million from a fund used for safety operations, and instead used it for executive compensation and bonuses”. Ratepayers and taxpayers should never have to pay for deliberate executive negligence. https://www.latimes.com/business/la-fi-pge-safety-investigation-20181214-story.html https://www.latimes.com/business/la-fi-pge-safety-investigat...
- gamblor956 8y agoPG&E had more than enough money to bury its power lines, and used that money to fund dividends and executive bonuses instead.
- objektif 8y agoHold on they were not allowed to do secondary offerings? Or debt raise? Have you seen the stock price of PCG? Share price trend does not resemble a company with financial troubles.