Analysts cite improved market conditions, but the financial pain from this winter will linger for some consumers.
Higher natural gas prices also affect customers who don’t have gas heating units or stoves. That’s because natural gas in California is a major source of power generation, which inflates electricity rates.
“We care about the mental health of our community and when they’re worried about their bill, that is tough for every portion of their life,” said SDG&E spokesman Anthony Wagner, “and we want to help take that stress away.” Toney said the $16 million “is certainly plus,” but added: “It still feels like a drop in the bucket. That was an extraordinary circumstance in terms of the increase and extraordinary measures are appropriate in terms of shareholders digging a little deeper into their pockets to relieve some of the pain that so many of their customers are having.”the $1.
This winter’s price spike has been attributed to a combination of reasons, including colder-than-normal weather that led California customers to crank up their gas-fired heating units, which reduced storage levels of natural gas. the Federal Energy Regulatory Commission to conduct an investigation to see if any market manipulation has been at work.
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