PGE, which forked over huge employee bonuses and stock dividends rather than upgrading its systems, now says it may have to continue periodic blackouts throughout California for up to ten years to prevent wildfires. PG&E equipment was found responsible for a series of wildfires that
caused billions of dollars of damage in California in recent years. The
company filed for bankruptcy in January, citing an estimated $30 billion
in wildfire liabilities.
It is now seeking rate increases to force citizens to pay for the upgrades that they were obligated to pay for with the money they paid out in bonuses and dividends. The company demonstrated its "sensitivity" to the issues by hosting a wine tasting and dinner party for its top employees as the process of shutting off electricity to two million people began.
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