4 ms·
Why do you think electricity prices are high? Because PG&E: * spent billions over the past few decades on stock buybacks * spent billions on fines and restit
by inferiorhuman 3y ago
Why do you think electricity prices are high?
Because PG&E:
* spent billions over the past few decades on stock buybacks
* spent billions on fines and restitution for malfeasance like falsifying call-before-you-dig records
* spends tens of millions annually on stock dividends (down from billions annually pre-bankruptcy)
* used their safety budget to pay executive bonuses
* stacked the CPUC in their favor
* rakes in billions in profit (roughly $1/share EPS) annually