PG&E have spent massive amounts on so-called 'green' energy, that is wasting money on virtue signalling that provides little or no energy. PG&E have done the same in their hiring- membership of a so-called victim class based on 'gender' preference and skin color became a more important hiring and assigning criterion than ability to do the job.
While on the quiet they cut essential maintenance not just in clearing fuel from under power lines, they spent on every progressivist cause. They may have thought all this would carry weight (collude?) with the Pricing Regulator, who have the job of setting prices high enough to give profit, it did, but not enough especially with the massive lawsuits now coming in. They sunk into financial disaster hoping to be rescued. The only chance of survival is from big spending on legal blame gaming.