PG&E is trying to destroy traditional marriage by contributing $250,000 to the No on Prop. 8 campaign. Why would PG&E do this? Is it for lofty philosophical ideals or is it a crass public relations campaign to curry political favor with liberal San Franciscans? Well, follow the money for the answer.

This spending by PG&E, headquartered in San Francisco, emphasizes the value the utility places on its monopoly hold over the San Francisco market, which accounts for about 6 percent of PG&E’s annual electricity distribution revenue.

San Francisco’s power market is worth tens of millions of dollars a year to PG&E. The corporation makes about $19 million net profit yearly by selling electricity to San Francisco. PG&E has held a monopoly over San Francisco since 1905.

Since the 1920s, San Francisco ratepayers have placed several measures on the ballot in an attempt to end PG&E’s monopoly. All have been defeated by massive spending by the public utility. PG&E has even taken over the environmentally sensitive Hetch Hetchy system that San Francisco built to provide cheap power to themselves.

Interestingly, PG&E as a public utility makes a net profit of 15%. This is double the profit margin of most major domestic oil companies. Gee, I wonder if PG&E will be asking for a rate increase soon.