After setting fire to much of the state, and now shutting down power to much of the state, in pursuit of profit numbers to justify excessive executive bonuses, Bernie Sanders is suggesting that it’s time to start to seriously consider a move to publicly owned utilities:
As two million Californians go without power in the midst of for-profit utility giant PG&E’s intentional and unprecedented blackout—which the company says is necessary to prevent more wildfires—Sen. Bernie Sanders said Sunday that “it is time to begin thinking about public ownership of major utilities” to prevent such catastrophic corporate mismanagement in the future.
Preach it, brother!
Utilities are by their nature monopolies, you cannot have transmission wires from a dozen competitors competing for pole space, and it is clear that they (particularly the execrable PG&E) have the extraction of monopoly rents to maximize executive bonuses as their core, and perhaps only, value.
That’s why they have consistently refused to engage in proper maintenance of their transmission facilities.