The Rate Payers!
That'''s Right, Moonbeam just signed a bunch of Bills sticking the customers with all the damages, most likely including all the lawsuits.
SACRAMENTO (AP) – Gov. Jerry Brown signed a measure Friday allowing utilities to bill their customers to pay for future legal settlements stemming from devastating 2017 wildfires, even if the blazes are blamed on the company's mismanagement.
The bill is aimed at preventing bankruptcy for Pacific Gas & Electric Co. The nation's largest utility by revenue faces billions of dollars in liability if investigators determine its equipment caused the Tubbs Fire that destroyed thousands of homes and killed 22 people in Santa Rosa last year.
Critics call it a bailout for PG&E investors.
"Wildfires in California aren't going away, and we have to do everything possible to prevent them," Brown said in a statement. "This bill is complex and requires investment – but it's absolutely necessary."
The bill creates a special process for the 2017 fires, which caused more than $10 billion in damage, by far the most in state history. It seeks to determine how much liability the utility can absorb without triggering severe consequences like bankruptcy, and allows any additional costs to be billed to consumers.
For fires sparked in the future, the bill allows the Public Utilities Commission to consider a variety of factors – including weather conditions, a utility's efforts to prevent fires and findings of mismanagement – to decide whether electric companies can pass costs to consumers.
https://sacramento.cbslocal.com/2018/09/21/jerry-brown-pge-wildfires-charging/
Quote"Wildfires in California aren't going away, and we have to do everything possible to prevent them," Brown said in a statement. "This bill is complex and requires investment – but it's absolutely necessary."
What "investment"? This isn't investment. It's a bailout which will do nothing to prevent future fires.
Quote from: The Boo Man... on November 27, 2018, 09:42:27 PM
What "investment"? This isn't investment. It's a bailout which will do nothing to prevent future fires.
The working class will always pay for everything. That why there will always be fires in Ca. How many will mover out of state over this?
Quote from: The Boo Man... on November 27, 2018, 09:42:27 PM
What "investment"? This isn't investment. It's a bailout which will do nothing to prevent future fires.
When a liberal uses the term "investment" hold onto your wallet.
Quote from: The Boo Man... on November 27, 2018, 09:42:27 PM
What "investment"? This isn't investment. It's a bailout which will do nothing to prevent future fires.
Don't you just love how the Marxists morph stealing to investment? I guarantee you, this will wind up with SCOTUS, no State has the right to force customers to pay for the failings of a corporate entity.
I can almost guarantee you, they told PG&E to shut up, if you accept all blame, we'll bail you out.
What Moonbeam fears most is that State being sued over failed environmental policies that exacerbated the problem.
Quote from: supsalemgr on November 28, 2018, 04:44:40 AM
When a liberal uses the term "investment" hold onto your wallet.
Ding Ding Ding!!! Spot on, Ca is about to see the highest energy rates in the nation, possibly by two fold.