Maybe PG&E gets a bad wrap

PG&E is very misunderstood. Seems like people think they are owned by a bunch of fat cats. Actually, they are mostly owned by pension funds and conservative investors, such as retired people.

They used to earn a very hohum return because the Public Utilities Commission limited their return, but virtually guaranteed that return. The stock was more like a bond. That all changed. Now, every time there is an accident, the damages come from the stockholders. Who wants a “bond” like that? The PUC also limits their maintenance and improvement budget tightly, because PUC’s main purpose is to keep utility rates as low as possible. Some people are calling for the government to take PG&E over. Great. Your power and gas would be supplied by the people who leave the windows down on the buses when they wash them. On the plus side, there would be nobody to sue when the next accident happens.

— Bob Gustafson, Oroville