Late Stage Capitalism: Half of California worst fires caused by ramshackle power supply system

[bodecea]

Texas.

California

Not a chapparel area with canyons and Santa Ana winds.

 

[bodecea]

Texas.

California

Tezass is a flat wasteland whereas California is a mountainous and hilly productive state. So it is easy to cut back in that wasteland but not in an area that you can hardly walk up.

And anywhere where the chapparel burns, in about 5 years, it's all grown back and ready to burn again.

 

[Andylusion]

Power lines and transformers fail in every state of the USA. They don't cause enormous wildfires.The difference in California is the lines are surrounded with dry trees and brush that ignite quickly and spread even quicker with drought conditions and Santa Anna winds. It is wrong to destroy PG&E over things that nature and the government cause.

Blaming the failures of PG&E on the government won´t solve any problems.

But it is the government though. Bad government policies caused this.

If they unshackled PG&E, and let them charge what they needed to charge, to fund the services needed to protect the power lines... this would not happen.

 

[HenryBHough]

PG&E needs to maintain their infrastructure.

Something they used to do until state regulations outlawed cutting a blade of grass, let alone a tree.

What they need do do now is to shut down.

Entirely.

Then sell what's left in working condition to China.

The new Chinese managers come equipp4ed with ways to convincing bureaucrats to face reality.

 

[OnePercenter]

PG&E needs to maintain their infrastructure.

Something they used to do until state regulations outlawed cutting a blade of grass, let alone a tree.

What they need do do now is to shut down.

Entirely.

Then sell what's left in working condition to China.

The new Chinese managers come equipp4ed with ways to convincing bureaucrats to face reality.

Deferring infrastructure improvements to increase investor returns and grant a 94% pay raise to the ivory tower.

PG&E is one of the most mismanaged companies in the world.

 

[Toddsterpatriot]

PG&E needs to maintain their infrastructure.

Something they used to do until state regulations outlawed cutting a blade of grass, let alone a tree.

What they need do do now is to shut down.

Entirely.

Then sell what's left in working condition to China.

The new Chinese managers come equipp4ed with ways to convincing bureaucrats to face reality.

Deferring infrastructure improvements to increase investor returns and grant a 94% pay raise to the ivory tower.

PG&E is one of the most mismanaged companies in the world.

The state tells them how much they can spend.

 

[OnePercenter]

PG&E needs to maintain their infrastructure.

Something they used to do until state regulations outlawed cutting a blade of grass, let alone a tree.

What they need do do now is to shut down.

Entirely.

Then sell what's left in working condition to China.

The new Chinese managers come equipp4ed with ways to convincing bureaucrats to face reality.

Deferring infrastructure improvements to increase investor returns and grant a 94% pay raise to the ivory tower.

PG&E is one of the most mismanaged companies in the world.

The state tells them how much they can spend.

The State limits infrastructure spending? That is a stupid statement.

 

[Toddsterpatriot]

PG&E needs to maintain their infrastructure.

Something they used to do until state regulations outlawed cutting a blade of grass, let alone a tree.

What they need do do now is to shut down.

Entirely.

Then sell what's left in working condition to China.

The new Chinese managers come equipp4ed with ways to convincing bureaucrats to face reality.

Deferring infrastructure improvements to increase investor returns and grant a 94% pay raise to the ivory tower.

PG&E is one of the most mismanaged companies in the world.

The state tells them how much they can spend.

The State limits infrastructure spending? That is a stupid statement.

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

 

[OnePercenter]

PG&E needs to maintain their infrastructure.

Something they used to do until state regulations outlawed cutting a blade of grass, let alone a tree.

What they need do do now is to shut down.

Entirely.

Then sell what's left in working condition to China.

The new Chinese managers come equipp4ed with ways to convincing bureaucrats to face reality.

Deferring infrastructure improvements to increase investor returns and grant a 94% pay raise to the ivory tower.

PG&E is one of the most mismanaged companies in the world.

The state tells them how much they can spend.

The State limits infrastructure spending? That is a stupid statement.

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

 

[Toddsterpatriot]

Something they used to do until state regulations outlawed cutting a blade of grass, let alone a tree.

What they need do do now is to shut down.

Entirely.

Then sell what's left in working condition to China.

The new Chinese managers come equipp4ed with ways to convincing bureaucrats to face reality.

Deferring infrastructure improvements to increase investor returns and grant a 94% pay raise to the ivory tower.

PG&E is one of the most mismanaged companies in the world.

The state tells them how much they can spend.

The State limits infrastructure spending? That is a stupid statement.

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

 

[OnePercenter]

Deferring infrastructure improvements to increase investor returns and grant a 94% pay raise to the ivory tower.

PG&E is one of the most mismanaged companies in the world.

The state tells them how much they can spend.

The State limits infrastructure spending? That is a stupid statement.

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

No.

"The matter began when PG&E filed a 2016 request with FERC requesting permission to increase transmission rates for about $2.5 billion in capital expenditures and a 10.9% return on equity, or profit above costs."

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge

 

[Toddsterpatriot]

The state tells them how much they can spend.

The State limits infrastructure spending? That is a stupid statement.

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

No.

"The matter began when PG&E filed a 2016 request with FERC requesting permission to increase transmission rates for about $2.5 billion in capital expenditures and a 10.9% return on equity, or profit above costs."

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge

PG&E said its reorganization plan honors its roughly $42 billion in power purchase agreements (PPAs), much of that tied up in legacy solar, wind and other renewable energy projects. A bankruptcy court ruling in June could have allowed PG&E to renegotiate or cancel those PPAs, a threat that led to credit downgrades for some of the project companies behind the PPAs, including units of Consolidated Edison, Berkshire Hathaway and NextEra Energy.

PG&E Pledges to Honor Renewable Contracts in Bankruptcy Plan

DERP!

 

[OnePercenter]

The State limits infrastructure spending? That is a stupid statement.

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

No.

"The matter began when PG&E filed a 2016 request with FERC requesting permission to increase transmission rates for about $2.5 billion in capital expenditures and a 10.9% return on equity, or profit above costs."

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge

PG&E said its reorganization plan honors its roughly $42 billion in power purchase agreements (PPAs), much of that tied up in legacy solar, wind and other renewable energy projects. A bankruptcy court ruling in June could have allowed PG&E to renegotiate or cancel those PPAs, a threat that led to credit downgrades for some of the project companies behind the PPAs, including units of Consolidated Edison, Berkshire Hathaway and NextEra Energy.

PG&E Pledges to Honor Renewable Contracts in Bankruptcy Plan

DERP!

PG&E has to honor their contracts because they signed the contracts. DERP!

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge. DERP!

 

[Toddsterpatriot]

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

No.

"The matter began when PG&E filed a 2016 request with FERC requesting permission to increase transmission rates for about $2.5 billion in capital expenditures and a 10.9% return on equity, or profit above costs."

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge

PG&E said its reorganization plan honors its roughly $42 billion in power purchase agreements (PPAs), much of that tied up in legacy solar, wind and other renewable energy projects. A bankruptcy court ruling in June could have allowed PG&E to renegotiate or cancel those PPAs, a threat that led to credit downgrades for some of the project companies behind the PPAs, including units of Consolidated Edison, Berkshire Hathaway and NextEra Energy.

PG&E Pledges to Honor Renewable Contracts in Bankruptcy Plan

DERP!

PG&E has to honor their contracts because they signed the contracts. DERP!

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge. DERP!

The Wall Street Journal reported Monday that PG&E has $34.5 billion worth of renewable-energy contracts for electricity deliveries between now and 2043, according to a filing with FERC. Rejecting contracts with above-market prices could save the company $1.4 billion annually, according to Moody’s Investors Service.

But shredding these long-term promises to buy clean energy under state mandate could also cause serious problems for California’s ongoing efforts to grow its share of clean power and reduce carbon emissions, according to analysts.

PG&E’s Bankruptcy Judge Leaves Door Open to Shedding Renewables Contracts

DERP!

 

[OnePercenter]

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

No.

"The matter began when PG&E filed a 2016 request with FERC requesting permission to increase transmission rates for about $2.5 billion in capital expenditures and a 10.9% return on equity, or profit above costs."

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge

PG&E said its reorganization plan honors its roughly $42 billion in power purchase agreements (PPAs), much of that tied up in legacy solar, wind and other renewable energy projects. A bankruptcy court ruling in June could have allowed PG&E to renegotiate or cancel those PPAs, a threat that led to credit downgrades for some of the project companies behind the PPAs, including units of Consolidated Edison, Berkshire Hathaway and NextEra Energy.

PG&E Pledges to Honor Renewable Contracts in Bankruptcy Plan

DERP!

PG&E has to honor their contracts because they signed the contracts. DERP!

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge. DERP!

The Wall Street Journal reported Monday that PG&E has $34.5 billion worth of renewable-energy contracts for electricity deliveries between now and 2043, according to a filing with FERC. Rejecting contracts with above-market prices could save the company $1.4 billion annually, according to Moody’s Investors Service.

But shredding these long-term promises to buy clean energy under state mandate could also cause serious problems for California’s ongoing efforts to grow its share of clean power and reduce carbon emissions, according to analysts.

PG&E’s Bankruptcy Judge Leaves Door Open to Shedding Renewables Contracts

DERP!

PG&E's overspending can do the same. DERP!

 

[Toddsterpatriot]

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

No.

"The matter began when PG&E filed a 2016 request with FERC requesting permission to increase transmission rates for about $2.5 billion in capital expenditures and a 10.9% return on equity, or profit above costs."

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge

PG&E said its reorganization plan honors its roughly $42 billion in power purchase agreements (PPAs), much of that tied up in legacy solar, wind and other renewable energy projects. A bankruptcy court ruling in June could have allowed PG&E to renegotiate or cancel those PPAs, a threat that led to credit downgrades for some of the project companies behind the PPAs, including units of Consolidated Edison, Berkshire Hathaway and NextEra Energy.

PG&E Pledges to Honor Renewable Contracts in Bankruptcy Plan

DERP!

PG&E has to honor their contracts because they signed the contracts. DERP!

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge. DERP!

The Wall Street Journal reported Monday that PG&E has $34.5 billion worth of renewable-energy contracts for electricity deliveries between now and 2043, according to a filing with FERC. Rejecting contracts with above-market prices could save the company $1.4 billion annually, according to Moody’s Investors Service.

But shredding these long-term promises to buy clean energy under state mandate could also cause serious problems for California’s ongoing efforts to grow its share of clean power and reduce carbon emissions, according to analysts.

PG&E’s Bankruptcy Judge Leaves Door Open to Shedding Renewables Contracts

DERP!

PG&E's overspending can do the same. DERP!

Yup, the government forced them to overspend on "green energy".

 

[CrusaderFrank]

CA will takeover PG&E just as Socialist try to do every other time they come to power. Convincing themselves that greed and capitalism are the problem, within 5 years CA at night will most closely resemble North Korea

 

[Tax Man]

The state tells them how much they can spend.

The State limits infrastructure spending? That is a stupid statement.

If they need to raise rates to spend on infrastructure and the state says no, then yes, the state is limiting infrastructure spending.

If the state mandates they waste...err...invest money on green energy, leaving them with less to spend on infrastructure, then yes, the state is limiting infrastructure spending.

Infrastructure improvements and maintenance are already included in base fees and charges from consumers.

The State limits infrastructure spending? That is a stupid statement.

The State limits infrastructure spending?

California, SF seek oversight for PG&E transmission spending

No.

"The matter began when PG&E filed a 2016 request with FERC requesting permission to increase transmission rates for about $2.5 billion in capital expenditures and a 10.9% return on equity, or profit above costs."

PG&E overspends by millions, yet key repairs are left undone, ratepayers charge

PG&E has long been a generous payer to stock holders. That is why the company has such expensive stocks. My parents got rich off PG&E stocks.
The purchase of green energy is accomplished by buying home owner solar excess power. It is called net metering. I pay $11.10 a month for electricity and they get all my excess power. How is this an over spending?

 

[OnePercenter]

CA will takeover PG&E just as Socialist try to do every other time they come to power. Convincing themselves that greed and capitalism are the problem, within 5 years CA at night will most closely resemble North Korea

No. If the money is right, Berkshire/Hathaway will buy PG&E.

 

[Toddsterpatriot]

CA will takeover PG&E just as Socialist try to do every other time they come to power. Convincing themselves that greed and capitalism are the problem, within 5 years CA at night will most closely resemble North Korea

No. If the money is right, Berkshire/Hathaway will buy PG&E.

Buffett is too smart to put assets where California politicians can seize them on a whim.

He'll politely say, Fuck No!