The exercise of caution in public service in California is reminiscent of Lily Tomlin on Saturday Night Live (circa 1975) listening to a complaint as a telephone operator and responding something like "we're the Telephone company - we don't (have to ) care."
It would be fair to say getting to the right extension and actually getting an error corrected or a check issued is a daunting task. Such rarely falls under the eye of department heads who just want to know there are no major glitches other than people without law degrees giving up in frustration in their attempts to get their business set straight.
So here comes PG&E - thousands of highly skilled technicians and engineers doing everything they can to operate a vast network of power management. Faced with this daunting task, PG&E can't allow one second of slack. Any and all acute or chronic issues is constantly churning the order of priorities. I'll go as far as to say the organization has the weight of California on their backs 24/7.
And then the California Legislature - which lives each day to the Muzak tune of "we shall overcome..." As always, the memory of ENRON manipulating rates like Capone enforcers painting the walls red creates a prejudicial "plank" for them to walk with leftist legislators poking them in the butt with swords. So how do PG&E investors (owners) feel?
We are not real happy. PG&E is figuratively imprisoned as the cyclical events in California have become a chronic issue in which finger pointing and buck passing are evidently the only options.
Tell me about wind, fire, and rain; is it all PG&E's fault? In such extremes - and they are among the worst on the planet - how is it that PG&E deals so successfully with management 99% of the time but is understandably overwhelmed when all hell breaks loose.
I'm long PG&E; that is why I keep up with the news. The State of California is a freaking circus; what they know is little or nothing.
Disclosure: I am/we are long PCG.
Additional disclosure: My only utility