yes, and .. there was a time long ago in California when PG&E had a clear, engineering oriented management culture. In fact, great infrastructure was built and ran very reliably, for decades. But the times changed. There were relatively fewer 'grand challenge' engineering efforts, and far more day-to-day infrastructure and labor management, accounting and banking. Oh, lots of cash accumulation and cash flow control, too.

A new set of PG&E leadership settled in -- bean counters and control-focused policy. The old engineers, for good reason, considered their "job well done" and went to play golf or whatever. The new management hid money, played hardball with sub-sub-contractors, and told old people on pensions to pay up, as business people tend to do..

source: attorney from the time of the Enron price crisis in California