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Actually suing PG&E is not so nice. Costs just get shifted to recipients of PG&E's service. We need to charge the PG&E executives with criminal negligence and r
by CameronNemo 7y ago
Actually suing PG&E is not so nice. Costs just get shifted to recipients of PG&E's service. We need to charge the PG&E executives with criminal negligence and recover capital distributions that occurred while PG&E was neglecting its infrastructure.
- njarboe 7y agoThe California Public Utilities Commission(CPUC) controls how much PG&E spends on infrastructure and dividends. PG&E requested to spend more on infrastructure improvements but the CPUC decided to keep rates lower, pay out dividends, and spend money subsidizing alternative power instead.
- kevingadd 7y agoHow does the CPUC pay out dividends? The CPUC is a state regulatory agency with a budget that comes out of tax dollars (~1.6b).
- njarboe 7y agoCPUC controls PG&E's budget and determines how much they can pay as dividends. Usually around a 5-6% return on capital.
- nerfhammer 7y agoThe CPUC is able to set PG&E's target profit margin.
- CameronNemo 7y agoThanks for the info. Do you have a source? In particular I would like to know the years and who was in charge of the commission at the time.