You may have seen in the news today that California and NRG settled a lawsuit stemming from the energy crisis 10 years ago involving energy trading companies illegally scamming California for billions of dollars through the unregulated electricity market. A side part of the settlement is a massive electric vehicle charging network to be built in California over the next few years. The network will have 200 fast charge stations, and an additional 10,000 or more normal charge stations.
It sounded great until I started digging into it.
Turns out the $120 million settlement is actually $100 million of "infrastructure investment" and $20 million of payment to the CPUC. The $100 million part is going to be used to bring NRG's eVgo subsidiary to California to build a massive electric car charging network / business.
Normally when a company is guilty of wrongdoing and pays a settlement, do they get awarded a business in return for the settlement?
Chelsea Sexton read my article (http://www.torquenews.com/1075/california-settles-energy-crisis-lawsuit-...) and replied saying:
Press release: http://www.gov.ca.gov/news.php?id=17463
NRG's press release: https://www.evgonetwork.com/News_and_Events/News_Archive/NRG_Energy_Inc_...