Electricity Rates Soar in California
Written By Alejandra Cruz
Source: CBS Sacramento | By Dillon Fuhrman
The California Legislative Analyst Office (LAO) confirmed this in a report that says electricity rates in the Golden State are increasing at a faster rate than inflation. The driving factors: Wildfire reduction related costs, ambitious greenhouse gas reduction programs and inconsistency in prices across utilities.
"We got to have limits on increases, limits on overspending and limits on corporate profits so that every day customers can get some relief," said Mark Toney, Executive Director of The Utility Reform Network (TURN). TURN, a utility companies watchdog, thinks there needs to be caps on non-fixed increases for investor owned utilities like PG&E.
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