PG&E first-quarter profits jump as utility’s revenue surges

Source: SiliconValley.com  |  By George Avalos

PG&E’s profits jumped during the first three months of 2023, a rise that coincided with big increases in monthly bills that frustrated some customers reeling from a cold, wet winter. Higher costs could continue into the year even as the days lengthen and turn warmer.

“Christmas came early for Wall Street,” said Mark Toney, executive director of the consumer group The Utility Reform Network, also known as TURN. “PG&E is focusing far too much on profits and far too little on affordable monthly bills.”