IMO the state should have forced PG&E into liquidation, bought all the assets, and converted the whole mess to a public utility. It would surely take some time to learn how to operate PG&E’s disaster of a system, but it’s not as though PG&E can competently operate its own system right now.

I hated this idea at the time, but have come around to it. Im fairly libertarian, but understand that competition is difficult for the power distribution network.

As much as I think the state is inefficient, a cost plus regulated monopoly is even worse. Municipal power companies in CA run $0.10-0.20 per kwh, while PG&E is $0.40-0.50 cents, and going up.

It would be amusing to require PG&E to match the average rates of the municipal utilities plus 10%. And then liquidate them when their stock goes to zero as a result :)