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   lcamtuf :verified: :verified: :verified: (lcamtuf@infosec.exchange)'s status on Friday, 20-Oct-2023 23:58:12 JST lcamtuf :verified: :verified: :verified:

   Say what you will about capitalism and socialism, but I'm pretty sure California invented the worst in-between option with PG&E.

   It's essentially run by the California Public Utilities Commission, which decides rates, mandates specific infrastructure investments, and caps profits. But it's notionally a publicly-traded company primarily responsible to shareholders.

   So, politicians get to scapegoat a "greedy corporation" for policy failings; while PG&E execs shrug and say they're not responsible for outcomes because CPUC effectively runs the show.

   And the result is somehow worse than any conceivable alternative.