How is this remotely fair? The proposal states that any costs above what their insurance coverage covers would be paid by the public. Not by, y'know. the corporation. That seems fair if it was the public that was maintaining the decades-old explosion-prone pipelines, but they are not.
This is another example of companies trying to privatize the reward of doing business while socializing the risk.
San Bruno blast: PG&E backs bid to bill public
State regulators will take their first look today at a proposal backed by Pacific Gas and Electric Co. that would require customers to pay all costs of catastrophic fires, such as last week's gas-line explosion in San Bruno, that exceed a utility's insurance coverage.
It's not clear whether the plan, if approved by the state Public Utilities Commission, would trigger a PG&E rate increase to help pay the utility's cost from Thursday's disaster. In a filing Monday with the U.S. Securities and Exchange Commission, the utility said it has $992 million in fire insurance and a $10 million deductible, and "believes that most of the costs related to the San Bruno event will be covered."
Even if the company has enough insurance, however, the proposal would make rate hikes more likely if PG&E caused fires in the near future.