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A comment on PG&E files for bankruptcy. Parent comment

Re:PG&E files for bankruptcy by manfredo on Tuesday January 29, 2019 @09:13PM (#19031997)
As far as I can tell PG&E hasn't paid dividends since 2017. Legal monopolies also come with burdens. PG&E is disallowed to refuse service to high-risk regions. When they shut down power to places during high fire risk, the company receives penalties. It's a difficult trap. If you reduce exposure to risk, you reduce income - which further hampers ability to provide a safe service.

At the end of the day, people can't eat their cake and have it too. When delivering power to high risk areas, either of two things happen: either we accept the danger, or the utility charges higher rates to offset the risk of damage. There's no magic solution. A government take over of PG&E isn't guaranteed to change anything, other than making the taxpayers directly liable for any mishap.

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Re:PG&E files for bankruptcy by olliej on Tuesday January 29, 2019 @09:41PM (#19032158)
That would make it a mere 7 years after the failure to maintain pipeworks results in an explosion that killed 8 people.

It also didn’t stop giving bonuses to the executive board that make the budgetary decisions.

This is also a glib dismissal of the effects of decades of under maintenance resulting in ever increasing costs to bring things back in order. Essentially deferring maintenance until the point of failure, at which point you declare bankruptcy and get bailed out by the people you defrauded.

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