[refurb]

That’s a massive stretch for “socialize the losses”.

By that logic any time a business fails and it impacts a lot of people the losses have “been socialized”.

And CA is far from a free market. The PUC has PG&E on a short leash and the results have been a disaster.

Edit: Replying - No, bankruptcy is actually the exact opposite of socializing losses.

[fwsgonzo]

How do you think the bankrupt utility will start up again?

Hint: Socialized costs.

[refurb]

Another energy company will likely buy them. How is that socializing costs?

People throw that term around without actually knowing what it means

[ceejayoz]

California was the first state to try deregulation of the energy market. https://en.wikipedia.org/wiki/2000–01_California_electricity...

[refurb]

Yeah and the regulations put in place around the market were terrible.