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Those financials say they increased their net profits from under 900m in 2015 to 1.6B in 2017 (nearly a 10% net profit margin--that's after taxes, depreciation,
by rgbrenner 8y ago
Those financials say they increased their net profits from under 900m in 2015 to 1.6B in 2017 (nearly a 10% net profit margin--that's after taxes, depreciation, etc).
Don't you think they could use some of that money to perform the maintenance required?
Instead they cut it: Operating and maintenance expenses:
2015: 7B
2016: 7.4B
2017: 6.3B
It looks like their 700m in extra profits in 2017 came directly out of the maintenance fund.
Thanks for the link, but this makes PG&E look even worse... since pg&e caused more fires in 2017 than the previous year, and 2018 is even worse than 2017.. now I really want to see what they spent in 2018.
- x0x0 8y agoIf you have no profits, CA is probably going to have to directly own the company. You won't be able to get cash from the stock market. At this point, that's the most likely outcome, but I can't imagine many people in the CA government actually want the responsibility.