As Utility Rates Soar Across California, Regulators ‘Asleep at the Wheel,’ Says Watchdog
Source: GV Wire | By Nancy Price
State agencies responsible for approving rate increases for electricity and natural gas providers in California need to do a better job of monitoring utilities’ costs, questioning increases, and communicating with consumers, according to a new report from the state auditor.
Californians are paying some of the highest rates in the nation, the auditor noted.
But the audit appears to be a clear signal that state officials want the PUC and Cal Advocates to sharpen their focus on how utility companies operate, claim costs, and make profits, said Mark Toney, executive director of The Utility Reform Network — TURN, an advocacy nonprofit.
“What it (the report) shows us is that the PUC has been asleep at the wheel when it comes to looking at the profit rates, when it comes to the question of duplication of costs,” Toney said.
