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Bloomberg: San Bruno Disaster Could Enrich PG&E Shareholders
PG&E President Chris Johns, in San Bruno
Up to $50 billion is expected to be spent modernizing networks of aging pipelines that sprawl across the nation in the wake of the Sept 9 disaster, it was reported.
"PG&E's plans to replace older pipes were 'constrained' by regulators, who capped spending they saw as unnecessarily driving up customer bills," Bloomberg reported, citing financial analysts. "Investment may benefit utilities such as PG&E, which can pass on the costs to customers through rate increases that include an allowance for profit."
John Upton was formerly a reporter at the Bay Citizen, where he covered water, science and the environment. johnupton@gmail.com.
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Gordon
Total rip-off of the rate payers, the shareholders need to pay a part of this as some of it should be paid from their dividends. Then maybe there won't be a "next time explosion"...