> In California, regardless of what wholesale electricity costs, the retail cost is something like $200/MWh more than could be considered reasonable.

$200/MWh is $2/kWh. California electricity prices are around $0,27/kWh (https://www.energysage.com/local-data/electricity-cost/ca/). I guess you mean $200/GWh?

Also, why do you find PG&Ek’s pricing unreasonable, given that it required a “phenomenally large capital investment” (and, I expect, quite a bit of ongoing maintenance) to be able to provide customers with electricity?