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Utility PG&E beats quarterly profit estimates on higher rates reut.rs/4yCJHh9

reut.rsUtility PG&E beats quarterly profit estimates on higher ratesPG&E Corp on Thursday reported second-quarter profit that beat Wall Street estimates, driven by higher customer bills and a surge in power demand due to AI data ‌centers, though gains were partly offset by increased spending on wildfire safety.

23/7/26, 11:01 am5 reposts4 likes

Sarah

@shhhhh-hush.bsky.social

23 July

So, the reason they are more profitable is because they are forcing customers to pay more. k. Why are utilities like electricity publicly traded? This is capitalism at its worst. Electricity companies should be beholden to their customers, not their shareholders. They should be community owned.