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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
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The California Public Utilities Commission (PUC) permits PG&E to charge rates that are 30 percent higher than the national average. PG&E’s shareholders enjoy a guaranteed 11.35 percent yearly return on equity. That’s slightly higher than the 11 percent that swindler Bernard Madoff pretended to offer his investment victims. After Madoff was exposed, his victims were chided for not having realized that no one pulls down an 11 percent return year after year on the stock market. But PG&E investors take in more than that every year. And unlike Madoff, the company’s earnings are for real, guaranteed at a fixed return devoid of risk.