Commentary: A better way: Let’s give PG&E’s customers the reins

  • First, we need a PG&E that aligns its financial interest with the public interest. A corporate board representing customers-rather than New York hedge funds or global institutional shareholders-will best focus the company’s resources on providing safe and reliable service to California ratepayers. Restoring the public trust in PG&E requires bringing customers into the boardroom.
  • Second, regardless of who or what owns PG&E when it emerges from bankruptcy, a tall financial mountain remains. All of the solutions to what ails our electricity distribution system- such as building microgrids, upgrading transmission and distribution lines, and improving vegetation maintenance-will require tens of billions of dollars of investment. We need a utility company with ready access to capital markets to make these big bets.

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