They're paying significant damages. And it drives them to bankruptcy repeatedly. But at the end of the day there's just one grid.
Yes and then they turn around and immediately charge us, so it doesn’t seem like it is doing much.
There's no "turning around". You're in a place with a problem. The utility is not capable of wishing that away.
The utility could have fixed it with the money they got to fix it, of course.
PG&E has over 100k miles of electric distribution lines (excluding transmission). Their numbers state it's $3M per mile to bury a line. Did they get $300 billion?