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The biggest investors in PG&E are Blackrock, Vanguard, Fidelity, JP Morgan. So in other words, people's 401ks. Not sure how it makes sense that your retirement

The biggest investors in PG&E are Blackrock, Vanguard, Fidelity, JP Morgan. So in other words, people's 401ks. Not sure how it makes sense that your retirement depends on a company with no competition and the ability to charge you any amount of money they want.

martin8412 2y ago
Well, that sounds more like a discussion about if it should be a private company, government run or some kind of coop owned by the customers. The last one generally benefits the customers.
- phendrenad2 2y ago
  That too. But since we're in this situation where it's a public company, it's just funny to me that people's finances are both being helped and harmed by PG&E, probably canceling itself out.
  - lotsofpulp 2y ago
    Old people’s (specifically asset owners, so above average wealth) finances being helped out and young people’s finances being harmed. Although, I don’t really see any other way for a society with a non pyramid shaped population histogram.
- JumpCrisscross 2y ago
  > coop owned by the customers I find it a bit hilarious that I, living in the reddest state in the union, have member-owned cooperative power [1] that is 100% wind while my parents in California pay 6x my rate for mostly natural gas [2] and wildfires. [1] https://www.lvenergy.com/my-account/ https://www.lvenergy.com/my-account/ [2] https://www.energy.ca.gov/data-reports/energy-almanac/california-electricity-data/2023-total-system-electric-generation https://www.energy.ca.gov/data-reports/energy-almanac/califo...
throwawaytn4U9 2y ago
On the aggregate this cancels out, but on the micro level this is just a kind of wealth transfer from the poor to the investor/retiree class, not too different from a tax on the young and less fortunate. The rich boomers are getting their retirement subsidized by screwing over the working class and the younger generation, pretty on brand I'd say.

martin8412 2y ago

Well, that sounds more like a discussion about if it should be a private company, government run or some kind of coop owned by the customers. The last one generally benefits the customers.

phendrenad2 2y ago
That too. But since we're in this situation where it's a public company, it's just funny to me that people's finances are both being helped and harmed by PG&E, probably canceling itself out.
- lotsofpulp 2y ago
  Old people’s (specifically asset owners, so above average wealth) finances being helped out and young people’s finances being harmed. Although, I don’t really see any other way for a society with a non pyramid shaped population histogram.
JumpCrisscross 2y ago
> coop owned by the customers I find it a bit hilarious that I, living in the reddest state in the union, have member-owned cooperative power [1] that is 100% wind while my parents in California pay 6x my rate for mostly natural gas [2] and wildfires. [1] https://www.lvenergy.com/my-account/ https://www.lvenergy.com/my-account/ [2] https://www.energy.ca.gov/data-reports/energy-almanac/california-electricity-data/2023-total-system-electric-generation https://www.energy.ca.gov/data-reports/energy-almanac/califo...

throwawaytn4U9 2y ago

On the aggregate this cancels out, but on the micro level this is just a kind of wealth transfer from the poor to the investor/retiree class, not too different from a tax on the young and less fortunate. The rich boomers are getting their retirement subsidized by screwing over the working class and the younger generation, pretty on brand I'd say.