[epistasis]

IMHO the problem is that utilities are like no other company in that they have a monopoly but are supposed to be reigned in by regulators. But the vast majority of regulatory bodies are either captured or incompetent at regulation.

Public versus privately traded doesn't matter as much as the fundamental conflict, wherein they profit more when the costs increase, and there's no penalty for literally killing people.

HIPAA violations result in jail time for executives. Meanwhile PGE illegally raids safety fund accounts to pay executive bonuses while regular people are killed due to failing infrastructure.

CPUC and PGE executives need to face serious consequences, and most certainly jail time, for their malfeasance.