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PG&E: California

nick77

nick77

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This is the reason why all utilities should not be publicly traded companies.

They answer to Wall Street and we have problems where the utility can't be bothered with silly things like maintenance and repairs because it eats into profits.

Now we have the utility just shutting off power for several days to avoid wildfires because it's simply cheaper to invest into lobbyists for political influence and divdends to shareholders instead.

https://theintercept.com/2019/10/11/pge-power-shutdown-california/

Capitalism is working as intended.
 
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