Note: The photo of the Bridal Trails house shows why such a weather disaster is a periodic threat to the Seattle Area. We call trees weeds. And they grow. Unless there is maintenance they they grow into power lines or to where they become a threat to the lines.
Seattle City Light is a public utility. Seattle was able to fix their damage quickly. The east-side where all the trouble is lies east of Lake Washington. (Bellevue is a suburb with skyscrapers.) Puget Sound Energy is a private utility that has profit as top priority. Minimum maintenance was done.
Collective ownership of utilities, to manage them democratically and for the benefit of the public is essential for them to be run well. Private ownership of utilities for profit is in contradiction of them being run well. I think Australians own our east of Seattle power grid. And this is a contradiction I would like to see gone.
* In October 2007, the company announced that it would be sold to foreign investors led by Macquarie Group, an Australian funds manager, and three Canadian pension funds.[24] Groups in three northwestern counties—Island, Jefferson, and Skagit—filed ballot measures for the November 2008 election to establish public utility districts in response to the planned buyout.[25] The measure was approved in Jefferson County, which formed a public utility district in 2013 and paid PSE $103 million for its assets in the county.[26]
The sale to Macquarie and the pension funds, conducted through a leveraged private equity buyout, was approved in 2009.[27] Puget Holdings, the U.S. title of this group of long-term infrastructure investors, merged with Puget Energy, PSE's parent company to form the current business structure. Puget Energy is a holding company incorporated in the State of Washington. All of its operations are conducted through its utility subsidiary, PSE, which is regulated by Washington Utilities and Transportation Commission.
In 2018, Macquarie sold its ownership stake in PSE. PSE's current owners are Alberta Investment Management Corporation, British Columbia Investment Management Corporation, OMERS, and PGGM.
Financialize the energy supply and doom is inevitable. And if you can't figure that out you are a dumfuck or someone with a finger in the pie.
- The Dimming Bulb v2.0
Started by K-Dog Nov 22, 2024, 02:26 PM
Message path : / Planetary Material Conditions / Electrons for Moloch / Power goes out on entire island of Cuba, leaving 10 million people without electrici #9
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