PG&E Monthly Bills May Outpace Inflation for Next Few Years: State Report

Source: Bay Area News Group  |  By George Avalos

The utility titan’s electricity rates could rise by an average of nearly 11% a year through 2027, the state Public Utilities Commission reported, which would continue a brutal pattern of skyrocketing monthly bills for PG&E’s customers. “The forecast in the CPUC report is speculative and should not be viewed as fact,” PG&E spokesperson Mike Gazda said. “PG&E has committed to limit average annual increases to no more than 3% through 2026.” The report forecasts the annual percentage increase in electric rates by comparing the actual year-end rates in 2023 to what the PUC expects will occur through 2027: — PG&E: 43% total increase through 2027, for an average annual increase of 10.8%. — Southern California Edison: 26% increase through 2027, for an average annual increase of 6.5%. — San Diego Gas & Electric: 22% overall increase through 2027, for an average annual increase of 5.6%.

“California residents need to brace themselves for the biggest bill shocks of their lives starting in late August when skyrocketing rates are multiplied by heavy air conditioning usage needed just to survive the record-breaking extreme heat in July,” said Mark Toney, executive director of The Utility Reform Network, or TURN, a consumer group.