PG&E customers face the forbidding prospect of higher monthly bills — starting this spring.
GREENVILLE, CA. – Aug. 4: The Dixie Fire destroys buildings in the Plumas County town of Greenville, Calif., Wednesday, Aug. 4, 2021.
PG&E customers could be paying $4 to $6 more a month for their utility service if the powerful five-member PUC panel agrees with the proposal issued by the PUC law judge, estimated Mark Toney, executive director of The Utility Reform Network, or TURN. “These costs were not included in prior rate proceedings, and we have requested to recover these costs over multiple years to limit the impact on customers,” PG&E spokesperson Mike Gazda said in comments emailed to this news organization.
During a business update in November 2023, PG&E predicted 2024 would produce profits of $1.31 to $1.35 a share. If that occurs, the 2024 profits would leap 10% above the anticipated earnings per share for all of 2023, which itself is expected to be 10% higher than 2022. Starting with the January 2024 billing cycle, monthly bills for PG&E customers averaged roughly $294.50 a month for the typical residential customer who receives combined electricity and gas services, according to estimates the utility provided to this news organization.
The 22.3% increase, however, greatly exceeds the 2.8% rise in the Bay Area inflation rate as measured by consumer prices during the 12-month period that ended in October.
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