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Why would an executive at PG&E give two shits about that? They get paid via the shell company that owns the utility and their profits are guaranteed by the public regulator while their liabilities are limited by their corporate structure.

[tedsanders]

I worked at SDG&E shortly after they paid $700M for starting fires in 2007. From my vantage point in the org, I saw that (a) the executives felt pressured, (b) much of the cost was borne by shareholders not ratepayers, and (c) this incentivized the company to invest more proactively in fire prevention strategies.

Sources:

-CPUC rejects SDG&E's attempt to pass on costs: https://www.sandiegouniontribune.com/business/energy-green/s...

-Sempra (the parent company) settles for $700M in damages: https://uk.reuters.com/article/sempra/update-1-san-diego-uti...

-Sempra's earnings and shares down as a result: https://www.sandiegouniontribune.com/sdut-sempras-1st-quarte...