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Those best practices are deemed too expensive by the CPUC, who has authority over the PG&E budget and retail rates. PG&E is legally allowed only a small profit
by dahdum 7y ago
Those best practices are deemed too expensive by the CPUC, who has authority over the PG&E budget and retail rates.
PG&E is legally allowed only a small profit as a percentage of revenue. Without it they couldn’t raise private capital, and would require public funds directly. They have every incentive to spend as much money on maintenance as is required, assuming the politicians allow the rates to rise.
- inferiorhuman 7y agoPG&E is legally allowed only a small profit as a percentage of revenue. Without it they couldn’t raise private capital, and would require public funds directly. They have every incentive to spend as much money on maintenance as is required, assuming the politicians allow the rates to rise. They also have an obligation to spend their safety budget ON SAFETY RELATED ACTIVITIES. Instead they blew their wad on a cash bonus for the CEO. If they can't find the money to maintain their equipment maybe it's time to claw back the $100,000,000 they stole.
- LorenPechtel 7y agoExactly. Don't give them the budget but expect them to do it anyway.
- inferiorhuman 7y agohttps://www.sfgate.com/bayarea/article/PG-E-diverted-safety-money-for-profit-bonuses-2500175.php https://www.sfgate.com/bayarea/article/PG-E-diverted-safety-... How about we just get that money back before jacking up rates?