The shareholders of a major utility company are largely working people (in their pension plans) and retirees seeking, mostly, a steady income stream.
Better to punish those actually responsible for any criminal conduct (specific people who did the bad deeds while on the payroll of the firm).
My point: shareholders should be punished before customers. PG&E is a monopoly. Customers cannot choose another gas or electric company. Therefore, since the company committed felonies and violated other rules, the company should pay, not the customers.
As I posted above, the people who committed the felonies and violations should go to prison. To hell with this “fine” bullshit. That, IMHO, provides no punishment.