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Didn't California fix its regulation issues after the whole Enron debacle?

• lokar 7y ago
  PG&E as been pulling (large) cash profits out for years while neglecting basic maintenance on the transmission network. The lack of maintenance has lead directly to the fires. The regulator decides how much maintenance they need to get done, and how much cash they can take out.
  • at-fates-hands 7y ago
    > he lack of maintenance has lead directly to the fires. Since they've been responsible for a number of fires in recent years, how are they not being fined or held accountable or for not properly maintaining their infrastructure?
    • unlinked_dll 7y ago
      They are currently involved in legal proceedings. That's why they declared bankruptcy earlier this year, it was preparation for massive fines.
    • lokar 7y ago
      The regulator could say "do a better job" Then PG&E would say: "ok, let us raise rates so it does not impact profit" If they disagree on that, it's a long administrative and legal process to work it out. Also, many of the employees of the regulator are either: - former (and future!) energy company employees - owe their jobs to politicians who take $ from the energy companies It is a complex, opaque process (to decide on require maintenance levels) that ends up controlled by the people who care the most about it.