PG&E continues to be in the hot seat. After nixing power for months to over two million homes up and down the coast of California, the for-profit utility continues to implement a regular series of blackouts. These disruptions not only leave millions in the dark but disproportionately affects Black people and other vulnerable communities. This illustrates why ownership of the for-profit utility company needs to shift from Wall Street to consumers. If PG&E were owned by those who pay for its services, Wall Street would not be able to rake in billions at the expense of Californians whose lives depend on the utility, and preventable wildfires and blackouts would not happen.
The wildfires didn’t have to happen...nor the loss of homes, businesses, and loved ones as a result. PG&E owners ignored fire risks in favor of profits. Had the owners of PG&E upgraded its infrastructure, added weather, camera, and satellite stations and not intentionally placed power lines near vulnerable trees, the growing number of fires PG&E is responsible for would not have happened. Black communities deserve better than a focus on “the bottom line” approach from predatory investors. Deliberately putting our folks in harm's way with no restitution is true to Wall Street form and the worst kind of greed.
Stand with Californians in demanding this Wall Street owned, for-profit utility becomes public.