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Over the last 8 quarters their average profit margin is a whopping 3.25%. If you think that’s just too high I’m not sure what to tell you. An alternate way to

Over the last 8 quarters their average profit margin is a whopping 3.25%. If you think that’s just too high I’m not sure what to tell you. An alternate way to look at the CA rule change is that CA needs more installed storage to shore up the shitty grid, and incentivizing people to install solar alone via net metering isn’t a great idea anymore. Remember that peak power demand is right around and just after sunset.

jjav 4y ago
> Over the last 8 quarters their average profit margin is a whopping 3.25%. If you think that’s just too high I’m not sure what to tell you. Profit margin is after deducting all expenses. A lot of corrupt spending can be included in expenses to reduce the profit margin at will while still raking in the cash. So yes, that's absurdly high given how they operate.
PointyFluff 4y ago
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mertd 4y ago
Does that include all deferred maintenance they had to do after the massive wildfires?
- ketralnis 4y ago
  And payouts for the various ongoing wrongful death law lawsuits
ericmay 4y ago
> Over the last 8 quarters their average profit margin is a whopping 3.25% This is the trade-off you take when you become a quasi-government company. You get a low, but nearly guaranteed profit. Executives still get their bonuses, employees get paid, etc. If they want more variable rates of return then they can drop the public protections and go full private like any other regular company.
- AtlasBarfed 4y ago
  Texas!!!! Or, the California grid when Enron was doing market manipulations like paying power companies to shut down and induce a brown/blackout.
hbarka 4y ago
Companies can keep profit margin flat by increasing operating expenses such as salary. For PG&E it looks immoral. https://www.ewg.org/news-insights/news-release/2022/10/ratepayers-struggle-pay-pge-energy-bills-ceo-rakes-over-190 https://www.ewg.org/news-insights/news-release/2022/10/ratep...
- metadat 4y ago
  Egregious. Submitted: https://news.ycombinator.com/item?id=34240356 https://news.ycombinator.com/item?id=34240356
swayvil 4y ago
3.25% of fifty bazillion ain't so bad.

jjav 4y ago

> Over the last 8 quarters their average profit margin is a whopping 3.25%. If you think that’s just too high I’m not sure what to tell you. Profit margin is after deducting all expenses. A lot of corrupt spending can be included in expenses to reduce the profit margin at will while still raking in the cash. So yes, that's absurdly high given how they operate.

PointyFluff 4y ago

[dead]

mertd 4y ago

Does that include all deferred maintenance they had to do after the massive wildfires?

ketralnis 4y ago
And payouts for the various ongoing wrongful death law lawsuits

ericmay 4y ago

> Over the last 8 quarters their average profit margin is a whopping 3.25% This is the trade-off you take when you become a quasi-government company. You get a low, but nearly guaranteed profit. Executives still get their bonuses, employees get paid, etc. If they want more variable rates of return then they can drop the public protections and go full private like any other regular company.

AtlasBarfed 4y ago
Texas!!!! Or, the California grid when Enron was doing market manipulations like paying power companies to shut down and induce a brown/blackout.

hbarka 4y ago

Companies can keep profit margin flat by increasing operating expenses such as salary. For PG&E it looks immoral. https://www.ewg.org/news-insights/news-release/2022/10/ratepayers-struggle-pay-pge-energy-bills-ceo-rakes-over-190 https://www.ewg.org/news-insights/news-release/2022/10/ratep...

metadat 4y ago
Egregious. Submitted: https://news.ycombinator.com/item?id=34240356 https://news.ycombinator.com/item?id=34240356

swayvil 4y ago

3.25% of fifty bazillion ain't so bad.