I don’t think you understood my comment. PG&E is as regulated as you can possibly get without literally being part of government. When PG&E wants to spend $100M on maintenance, it has to ask government for permission, and CPUC needs to approve this expense.

My point here is not to argue that with less regulation, PG&E would do better job when it comes to maintenance — I don’t know if it would. However, considering how deeply regulated it actually is, and how much the regulator controls everything it does, some blame must also be placed on the regulator’s side.