PG&E Requests $2 Billion in Additional Rate Increases
On December 1, PG&E submitted a CPUC filing requesting its customers to pay an additional $2 billion in rate increases to cover wildfire mitigations costs, barely two weeks after approval of record breaking increases for its General Rate Increase.
The ink barely dry on the November 16 CPUC decision on the General Rate Case adding $33 to monthly bills of typical residential customers at the beginning of 2024, PG&E wasted little time filing a motion requesting that the CPUC authorize early collection from customers of $1.58 billion starting on May 1, 2024.
PG&E wants to start collecting from customers, even before the CPUC has completed a proceeding with all of the parties, and issued a ruling approving, rejecting or modifying the $2 billion request.
Another Tip of the Iceberg—With More PG&E Increases on the Way
Customer bills will increase by at least another $12 a month starting in May if the CPUC grants early collection, and up to $20 a month, if they approve the full PG&E request. This increase would be stacked, on top of the $33 increase already approved, and stacked on top of additional true up increases that take effect on January 1.
2024 is shaping up to be a painful year for PG&E customers, who may be looking at bill increases of $40–$60 a month more than in 2023, once all the increases are added up.
California Customers Need a Rate Cap—Unlimited Increases are Not Sustainable
The current system that sets no limits on rate increases, needs to be replaced by a cap on annual bills, set at the Cost of Living Adjustment provided by Social Security.
The greed of utility executives and Wall Street investors may have no limits, but customers who are falling behind in their bills need a cap to unlimited bill increases.
Contact: Mark Toney • TURN Executive Director • mtoney@turn.org • (510) 590-2862
