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True that SVP benefits from not serving a rural area, but we also need to consider again that PGE is a for-profit organization that in 2024 posted $2.5B in prof
by SCUSKU 1y ago
True that SVP benefits from not serving a rural area, but we also need to consider again that PGE is a for-profit organization that in 2024 posted $2.5B in profits, which were distributed to shareholders[1]. If PGE were owned by the state with no such fiduciary duty, this money could instead be used to lower rates and/or invest in infrastructure.
[1] - https://www.zacks.com/stock/quote/PCG/income-statement?icid=quote-stock_overview-quote_nav_tracking-zcom-left_subnav_quote_navbar-income_statement https://www.zacks.com/stock/quote/PCG/income-statement?icid=...
- avidiax 1y agoMy napkin math is that the $2.5B in profits accounts for about $0.14/kWH. This is based on total electrical energy production of 17,301 GWh, since PG&E doesn't seem to publish their total distributed energy. https://www.google.com/search?q=%242.5+billion+%2F+17%2C301+GWh+in+dollars+per+kWh https://www.google.com/search?q=%242.5+billion+%2F+17%2C301+... https://www.eia.gov/state/print.php?sid=CA#tabs-1 https://www.eia.gov/state/print.php?sid=CA#tabs-1
- ahmeneeroe-v2 1y agoGreat idea to napkin math it, but I think you're off by a very large margin. CA energy commission shows PG&E's energy consumption to be over 70,000 GWh. $2,500,000,000 profit/70,000,000,000 kWh consumed is ~$0.035 per kWh. So not exactly the smoking gun that CA ratepayers are looking for. site: https://www.energy.ca.gov/data-reports/energy-almanac/california-electricity-data/california-energy-consumption-dashboards-0 https://www.energy.ca.gov/data-reports/energy-almanac/califo...