PG&E collected $5 million for pipeline repairs but never repaired the pipes

What they did do at the same time for around the same amount of money, was provide executive bonuses. Oh, and they are again asking for $5 million for those repairs. Now that four people are dead, it’s no surprise that people are asking more questions and wondering about the corporate priorities. CNN:

The utility said it had identified the line section as a “high priority project” in the earlier transmission rate filing, but “rescheduled the project” after an updated assessment in 2009. But the company did not explain why it needed an additional $5 million and three years to complete repairs on a section it said in its most recent rate filing was in the top 100 risks for failure.

“Coupled with the consequences of failure of this section of pipeline, the likelihood of a failure makes the risk of a failure at this location unacceptably high,” the company said in that filing.

TURN officials think they know where some of the money went — in 2009, the year PG&E; didn’t spend $5 million on fixing the pipeline, the company did spend $5 million on bonuses for six top executives.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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