I do not understand what the state of California gains from the pretend private status of PG&E. Seems like an unnecessary concession to the free market freaks f

I do not understand what the state of California gains from the pretend private status of PG&E. Seems like an unnecessary concession to the free market freaks for something that's naturally and obviously the domain of a government (public utility). Just make PG&E public already, the current legal status is a joke.