Posted on 10/21/2019 2:43:38 PM PDT by yesthatjallen
Frustrated by PG&E Corp. PCG 3.61% ’s California blackouts and its existing options for exiting bankruptcy, the mayor of the state’s third-biggest city is proposing something radically different: turn the company into the nation’s largest customer-owned utility.
San Jose hopes to persuade other California cities and counties in coming weeks to line up behind the plan, which would strip PG&E of its status as an investor-owned company and turn it into a nonprofit electric-and-gas cooperative, Mayor Sam Liccardo said in an interview.
SNIP
(Excerpt) Read more at store.wsj.com ...
Socialism writ large, with communism right behind it.
“Embrace the suck”
My electric company in AZ at the river is a coop, and is member owned, has been from the beginning. Cheapest Electricity in the Nation, 8 cents a KW. and since the city of Needles, Ca is next door and they have their very own power plant, there about 45 New Buildings setup just for Growing Pot!!!
If it moves tax it, if it keeps moving regulate it, then when it stops moving have the government take it over.
even though Bill Johnson (exec at pg&e) speaks VERY very well,
his company is managed just AWFULLY!
....
to be fair, he’s just been hired recently (from Tennessee Valley Admin) so he did not create the corruption, incompetence, super-high rates, or the lousy service.
He inherited them all.
There comes a time when control or influence over public officials and “regulators” cannot save a company. It looks like this may be that time for PF&E?
if they think the brown out were bad then... wait til there is no accountability...
black market power coming up... pssssst... wanna buy some energy.
Will the “owners” be allowed to reject wastefull solar and wind projects in favor of performing basic maintenante and tree branch removal?
Customer-owned
Is that like nationalizing it to make it “worker-owned?”
Sounds like all the Democratic cities that want police review boards which will make the police officiers afraid to draw their weapon to defend themselves.
My California city owns its electric utility. We pay much lower rates than the surrounding cities that are serviced by Edison and we haven’t had any brownouts.
It will run much better then. /sarc
This should be fun.
1) people will vote to do stupid things with power
2) power reliability will get worse
3) people will blame management and burn them at the stake
4) New management installed
5) Goto (1
It will get to the point death row inmates will be put as management of California’s power system. No one else would touch the job with a 10 foot pole.
The “diverse” board of directors will be something to behold.
Start protesting and demanding a left-handed green-eyed trans-gender dwarf seat now—for the people!
Guess who gets sued in the next fire?!?
Great idea.
California will soon look like the socialist paradise of the DPRK.
5.56mm
Do. Think blackouts are inconvenient? Look to Venezuela and see your future utility futility.
No problem. They can hire a grad from Harvard to run the company.
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