in that case why have owners at all? it should basically be nationalized then. otherwise taxpayer paying the cost without really reaping profits (if there are/will be any)
It's far from perfect, but actually-public utilities are responsible for a lot of disasters too. It's not obvious that nationalizing PG&E would be good for anyone.
CA has some of the most expensive electricity in the nation. So it doesn't seem like the idea worked out.
In PG&E's defense, it's not literally cost-plus, and the CPUC doesn't always rubber stamp everything. Imagining the government alternative, what would really be different? There will still be a big bureaucratic organization full of imperfect humans with muddy incentives and limited resources. Would PG&E be better if the board of directors was appointed by politicians instead of elected by shareholders? I doubt it.