Given California's ham-handed "Public Service Commission," PG&E has been about as independent as the railroads were under Mussolini. The way they've been running over the past few years almost makes me wonder if there might be a Francisco d'Anconia working out of their home office.

It is CA, this behavior was only a matter of time. Their policies have created the decay of a prosperous state and the lefties lick thier chops in anticipation of taking control of key elements of the economy. Next up, housing the public in excess rooms because the owner doesn't need that much space.

Interesting read for an Objectivist, huh?

Regarding the bond ratings. What they can do is transfer revenue in such a way that the bond issuer with the highest rating can be the name on the bonds, paying the lowest interest possible. Of course...I don't think any of that is legal....but I digress....

"They are proposing a sale of bonds worth as much as $50 million to finance a buyout. Customers in these cities will witness an increase in their monthly energy bills to make repayment of bond interest possible. "

Yeah. We know how bonds worked in the past. "We are from the government and here to help."

PG&E has done a miserable job over the years but a cooperative run by gov bureaucrats would be much worse.

"The details are important in this case. For example, Stockton has a lower municipal bond rating as compared to San Francisco or Sunnyvale. How does the coalition plan to iron out differences in municipal bond ratings and how will they affect customer electric bills in these regions? How also do they plan to divvy up PG&E's assets and lines between themselves? California Governor Gavin Newsom has already appointed an "energy czar" to work on the utility's bankruptcy and ensure a resolution latest by the middle of next year. "

So this will be on the ballot next year, and I am sure the Californian sheeple will vote for it.

Thanks but no thanks.