Because spending money to maintain the grid removes money available to pass back to the shareholders and as the CEO is held to account by shareholders, less money for shareholders means the company is not doing as well.
this post was submitted on 16 Sep 2023
13 points (93.3% liked)
Halifax
305 readers
3 users here now
Halifax, Nova Scotia Lemmy Community Guidelines
-
Respect: All members must show respect to each other. This means no bullying, harassment, or personal attacks.
-
Local Focus: This server is focused on Halifax, Nova Scotia. Please keep discussions and content relevant to our city and region. Topics might include local news, events, recommendations, and community issues.
-
No Spam: Please avoid posting repetitive messages, advertisements, or irrelevant content.
-
Privacy: Do not share someone else's personal information without their consent. This includes addresses, phone numbers, and other sensitive information.
-
No Illegal Content: Sharing or promoting illegal activities is not allowed. This includes pirated content, drugs, or other illegal actions.
-
Safe-for-Work Content Only: Keep your posts safe for all members. No explicit content, graphic violence, or hate speech is allowed.
-
Politics and Religion: Discussions about politics and religion are allowed, but they must be conducted respectfully and considerately. No flaming, trolling, or baiting is allowed.
-
Listen to the Moderators: If a moderator or admin tells you to stop doing something, you must comply. If you have a problem with a moderation decision, take it up in private with the mod team.
-
Reporting: If you see someone breaking the rules, don't respond in kind. Use the reporting function or contact a mod directly.
-
Constructive Contributions: Aim to make your contributions constructive, helpful, or insightful. We're all here to learn, share, and connect with each other.
These guidelines are meant to create a welcoming, inclusive environment where all members can enjoy discussing Halifax and its surrounding areas. Violating these guidelines may result in warnings, mutes, or bans, depending on the severity and frequency of the violation.
Thank you for making this a great community!
You can join our discord on here
founded 1 year ago
MODERATORS
I hope those shareholders get to sit in the dark for a week without power. Maybe they’ll get the hint.
The trouble is that the shareholders are mostly not local investors or even individuals at all. They are institutional or corporate investors. In fact, I bet a lot of the shareholders are members of mutual funds that have no idea what they hold shares in.
Even if they were making an appropriate attempt to meet the future needs of the always-growing power grid, and granted they're probably nowhere close, it takes way more than a year and a modest price hike to make a large scale power grid redundant and reliable in the face of escalating natural disasters. It's going to need massive investment. Like wartime, drop everything we used to do or think was important and pivot the whole economy levels of investment; when you start considering all the things that will need to be built, redesigned, or upgraded because climate change keeps happening and is going to keep happening. We're going to have to make efforts to not only:
- Start to change the current trend to make it stop happening eventually but also
- To deal with the already happening results of what has already happened to the climate and
- Prepare for things that are going to continue to inevitably get worse for a long long time because we've already changed ongoing trends beyond our realistic ability to reverse
No government, no utility is going to wave their magic wand and fix this. Reality doesn't care about your power bill. Reality doesn't care about the power company's equipment and infrastructure. Reality doesn't care about any of us. And reality is coming. It's going to hurt. It's going to change the way we live. It's going to change our financial systems. It's going to change the way we organize our society. This is just a mild sample of what's to come and if you want it to stop you're going to need a time machine, not some CEO to listen to your plea nor government intervention either. In a few decades, the idea of whining about power reliability and price is going to seem quaint and outdated, either because we somehow pulled off a miraculous turnaround despite all the odds or because we'll be in a modern dark age (maybe literally) that makes the great depression look appealing by comparison.
Justify? Lol, it's a monopoly.