[stickfigure]

You'll have to verify this yourself, but my understanding is that there is no clear winner on the public choice issue of public vs private electrical. There are well-run and poorly-run examples on both sides.

In PG&E's defense, it's not literally cost-plus, and the CPUC doesn't always rubber stamp everything. Imagining the government alternative, what would really be different? There will still be a big bureaucratic organization full of imperfect humans with muddy incentives and limited resources. Would PG&E be better if the board of directors was appointed by politicians instead of elected by shareholders? I doubt it.