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Thanks for the updates, John-- definitely helps to have someone with your expertise dig through the legalese for us! It appears that PG&E and the Governor are getting much closer to a resolution that will allow the former to emerge from bankruptcy. PG&E has made an additional proposal back to the Governor that will reduce its lending costs (for funds to cover its liabilities...
Thanks for the comment, Matt. PG&E does have the nuclear option - tie up any attempt to turn it into a public utility for multiple decades it court. Also their (mostly unionized) employees have come out strongly against the public utility option - when Sen Wiener publically announced his proposal there was a big gang of them there creating counter-chaos. Note the Sen Wiener...
Appreciate the response, John! For anyone following along, here's the 'New / Old Major Municipal Utility' paper John's referring to: https://www.energycentral.com/c/pip/new-old-major-municipal-utility
Pretty wild that a Wildfire Safety Board or other official groups weren't already in place in California-- are there comparable safety-related boards tied to specific types of disasters/events in other states? I imagine the utility sector in hurricane areas of the Gulf of Mexico have such measures in place?
Thanks for the comment, Matt. We have always had wildfires, but until the weather pattern change in conjunction with climate change (starting around 2010), they have been pretty rare, now we get a couple of thousand per year. That is why utilities could get away with sloppy vegetation management and T&D maintenance earlier. There will be future challenges and we will deal with them...
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Warren Buffett (2014): "'I will do anything that is basically covered by the law to reduce Berkshire's tax rate,' Buffet told an audience in Omaha, Nebraska recently. 'For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit.'" (2020):