PG&E Profits Hop Higher as Revenue Surges from Electricity and Gas
Written By Alejandra Cruz
Source: The Mercury News | By George Avalos
The Oakland-based power company earned an eye-popping $2.24 billion in profits last year, an increase of 24.6% from 2022, PG&E reported on Thursday. The report also predicted the utility titan’s investors can anticipate even better earnings in 2024.
The Utility Reform Network, a consumer advocacy group that goes by TURN, blasted the latest profit figures. “TURN believes it is unacceptable for PG&E shareholders to pocket billions in profits at the expense of its customers who have seen bills skyrocket by 33% last year alone,” said Mark Toney, the group’s executive director.
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