PG&E Reports Profits Declined 10%, Which Means They'll Just Raise Bills Again

https://sfist.com/2022/07/28/pg-e-reports-profit-10-decline-which-likely-means-theyll-just-jack-up-your-bills/

by coding123 • 4 years ago

15 8 4 years ago

fasthands93• 4 years ago

Yes, your PG&E bills are higher. And they’re probably going to go up even more, because PG&E needs to bury power lines and pay off manslaughter victims’ families, and the investors would rather you pay for that instead of them.
I’m not an investor, but if I were, I’d sure think twice before investing in a company that spent a great deal of time in criminal court over an endless array of manslaughter charges. But PG&E has a special arrangement, that is, a monopoly, and any financial penalties they suffer can simply be passed along to you the consumer, which makes them a very safe bet for investors.

I don't quite know what solution people with these politics have. They don't like oil companies (which are capitalist competitors) or utility companies (which are run with help from the state and have profit caps). Of course being a monopoly is bad incentives - but the alternative is more free market control. If you want PG&E to not be allowed to make any money - then it will just be unable to hire workers, run plants or provide people with power.

leshow3• 4 years ago

The fact that you think state capitalism or private capitalism are the only options is kind of depressing.

fasthands93• 4 years ago

I mean the state could pay for it...but then people just pay for it with taxes. Which is fine but also just moving the ball around. Unless you think the state wouldn't pay wrongful death lawsuits and therefore could charge the user (taxpayers) less.

PG&E Reports Profits Declined 10%, Which Means They'll Just Raise Bills Again

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