Death and profits

posted by
December 25, 2010
Z Magazine
by Michael Parenti  
Posted in Commentary, PND Commentary

"PG&E enjoys a captive consumer market of 15 million customers in northern and central California. The utility is a monument to state-supported monopoly capitalism. If costs rise, then so do customer rates -- in order to guarantee the 11.35 percent return. PG&E carries a $17 million insurance premium and additional millions in insurance deductibles; these expenses are picked up by its rate-payers. ... Along with all the other expenses they bear, PG&E's ratepayers usually pay for the enormous costs of utility accidents." (12/10)  


Our Sponsors