Power Play: No Limits Mean PG&E May Raise Rates Again for Northern and Central Californians
Source: Capital and Main | By Mark Kreidler
Only a few weeks after receiving approval from the California Public Utilities Commission for that roughly $400 annual rate hike late last year, PG&E went right back to the well. In a Dec. 1 filing, the utility asked the CPUC for permission to pass along another $2 billion in cost overruns as part of its ongoing process of updating wildfire mitigation and repairing storm damage.
“Talk about audacity – not only do they want to charge for what they didn’t get authorization to spend ahead of time, but they also want to collect most of the money before the commission even authorizes the retroactive amount,” said Mark Toney, head of the utility reform network TURN, which provided Capital & Main with several documents related to PG&E’s multiple requests for rate increases. “It’s certainly significant.” Toney estimated that customers will see at least $12 per month and as much as $20 per month added to their bills if the CPUC approves this latest rate hike and early collection plan. Added to the new $33 monthly increase, average annual bills could jump between $540 and $640 this year alone. Toney said that PG&E’s ultimate goal is to recover all of that overspend on the backs of its ratepayers, one hike at a time — one reason TURN is pushing for a cap on the percent of increase a utility can ask in any given year. “There simply can’t be no limits to what they can ask for,” the advocate said, but that is exactly what is in play here in 2024.
