New PG&E rate hike approved by CPUC - NBC Bay Area
New PG&E rate hike: What to know - NBC Bay Area
The Public Utilities Commission approved a PG&E rate hike Thursday that will add about $5 a month to the average bill - and it could begin as soon as next month.
Before the approval, the panel heard from a string of ratepayers and critics – some chanting “Stop the Rate Hikes!” – complaining about the hike.
The commission approved the hike unanimously without comment. A new board member, who until recently headed the consumer watchdog arm of the CPUC, recused himself from voting.
"It's small, but there is a whole line up of small increases on the table," said Mark Toney, executive director of the TURN ratepayer group.
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The newly approved hike is to expected to compensate for PG&E’s previous vegetation management efforts dating back to 2020. The spending was part of PG&E’s efforts to limit the risk of wildfires after a string of disastrous blazes that started in 2017 and ultimately led to the utility filing bankruptcy.
There is another rate hike in the works. In that case the utility wants to charge $10 more per month, on average, to pay for PG&E’s repairs related to storm damage last year.
The hike approved Thursday comes on the heels of a 13 percent increase in January. That hike raised the average bill about $34 a month. That increase was to pay for PG&E's ongoing efforts to underground power lines in high fire risk areas.
PG&E has said it expects total rate hikes in 2024 will total about $50 more per average customer.
PG&E says that nearly all the more than $2 billion in 2023 earnings was reinvested. It paid shareholders $21 million directly in dividends.
Related Knowledge Center: ENERGY BASICS: energy efficiency
The energy price spikes of the 1970s drove consumers, businesses and government to calculate opportunities for energy efficiency — investments, practices, and regulations to avoid some of the energy costs associated with particular products or services. Those calculations ran counter to a lot of engrained practices, and the friction between business and government is a feature of energy and environment policy discussions. Now, energy efficiency decisions — whether involving building practices, appliance efficiency, or vehicle mileage and emissions standards — are a complex mix of government regulation and market behavior.