SAN FRANCISCO (KRON) — Pacific, Gas and Electric Company has just received the OK to raise customers’ utility rates to generate $373 million.
The average bill increase will be about $3.50.
Mark Toney with the utility rate network, a critic of pg&e, says that the $3.50 every month will be used to recover the costs and repair damaged facilities after three California wildfires and four sets of storms.
“The problem is the CPUC didnt do the review they were supposed to do, the audit they were supposed to do to make sure PG&E told the truth,” Toney said.
“It gave PG&E no pushback [as] it voted unanimously to let them raise the rates,” said attorney Mike Danko, who represents a group of wildfire victims. “I think this is just a warmup. It’s going to happen again and the next one is going to much more significant.”
Danko also says PG&E is also asking to increase annual profits from 10 to 16 percent.
“That’s what got us into this trouble is PG&E’s unrelenting quest for profits,” Danko said. “To increase returns on Wall Street investments at a time when you haven’t even settles victims’ claims, it’s not only tone deaf, its jaw-droppingingly wrong,” said Gov. Gavin Newsom.
Earlier this week the governor said they wouldn’t happen.
But if that rate request was approved it could see monthly bills go up an additional nearly $20 dollars a month.
“You start adding all these rate increases and PG&E is in danger of bankrupting its own customers,” said Toney.
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