PG&E reports ~$2B in profits per year. Southern California Edison's parent company, Edison International, reported a net income of ~$4.5B for 2025. Profits and management comp costs are funds that should be going into infrastructure investments. The electric company did not make the environment, but their for profit status directly competes with proper allocation of investment to defend against climate risk and build a resilient distribution network.
The California power grid should've been nationalized long ago as an electric cooperative, but there is no will, so this grift continues until it doesn't.
The California power grid should've been nationalized long ago as an electric cooperative, but there is no will, so this grift continues until it doesn't.
https://www.pasadenanow.com/weekendr/edison-parent-reports-4...
https://www.electric.coop/electric-cooperative-fact-sheet
https://www.thebignewsletter.com/p/power-moves-how-electric-...
https://kevin.burke.dev/kevin/norcal-cities-new-utility/