Hawaiian Electric’s stock tumbled to a 13-year low Monday morning, plummeting nearly 40% after a class action lawsuit filed over the weekend alleged that Maui’s devastating wildfires were caused by the utility’s energized power lines that were knocked down by strong winds.
PG&E, the power and gas company for much of California does this. As a for profit company, they outsourced maintenance of their infrastructure to save money. The infrastructure was old, not well maintained or managed and it sparked several large fires over the years. They’ve paid lots of money in restitutions because of this. Now they shut off the power so they can’t be blamed for starting giant fires again…
PG&E, the power and gas company for much of California does this. As a for profit company, they outsourced maintenance of their infrastructure to save money. The infrastructure was old, not well maintained or managed and it sparked several large fires over the years. They’ve paid lots of money in restitutions because of this. Now they shut off the power so they can’t be blamed for starting giant fires again…