XPost: misc.industry.utilities.electric, alt.politics.democrats,   
   alt.fan.rush-limbaugh   
   XPost: talk.politics.guns, sac.politics, talk.politics.misc   
   From: democrat-criminals@mail.house.gov   
      
   https://sfstandard.com/2024/03/07/pge-cpuc-rate-hike-utilities-costs/   
      
   After nearly two hours of vociferous—at times enraged—opposition to   
   planned PG&E rate hikes during a meeting of the California Public   
   Utilities Commission on Thursday, commissioners took five minutes to issue   
   their decision.   
      
   The regulators would allow PG&E to raise rates. Again.   
      
   The new fees will stack on top of already historic hikes that went into   
   effect in January and averaged 13%—around $414 in additional annual   
   fees—for the typical PG&E electricity and gas customer.   
      
   That sticker shock will be compounded by an average of $4-$6 in additional   
   monthly fees for the typical ratepayer approved by the California Public   
   Utilities Commission. Those hikes, intended to cover the costs incurred by   
   the company for wildfire mitigation and infrastructure modernization, will   
   take effect in April.   
      
   Public commenters at the commission meeting in downtown San Francisco were   
   uniformly against the rate increases, with chants of “Stop the rate   
   hikes!” and “No rate hikes!” breaking out. Some referred to the utility’s   
   recent record revenues—its earnings statement released last week reported   
   profits of $2.24 billion for 2023, a nearly 25% year-over-year increase.   
      
   “This rate increase is to cover last year's cost overrun,” said Mary Zhu,   
   84. “It is a rush to judgment, and a company with $15 billion in the bank   
   is not entitled to charity.”   
      
   The increases were greenlighted without any specific discussion by the   
   five CPUC commissioners, and the vote went so quickly that several   
   activists missed that the decision even happened. "Did the vote happen?”   
   asked one attendee who stepped out of the room briefly.   
      
   Since early 2021, PG&E bills in California have increased by 38%—an   
   average of $52 per month, according to regulatory filings—20% more than   
   the rise in the consumer price index over the same period.   
      
   The recent increase in rates means that PG&E has now leapfrogged San Diego   
   Gas & Electric as the state’s priciest power provider.   
      
   But the bad news for ratepayers doesn’t end there: rates could continue   
   their dramatic rise in 2024. PG&E has a pending application to raise   
   monthly rates a further $14 a month starting later this year to recover   
   costs from damage caused by last year's storm season.   
      
   Much of the criticism from public commenters on Thursday was lobbed at the   
   five commissioners themselves, who were accused of passing through   
   additional costs to consumers in deference to corporate interests.   
      
   The five members of the Public Utilities Commission are appointed to their   
   positions by the governor and are confirmed by the state senate to a six-   
   year term. All current commissioners were appointed by Gov. Gavin Newsom   
   and most have held public service positions focused on energy policy.   
      
   “We reject the premise that the name of your body is the Public Utilities   
   Commission; it’s more like the private utilities commission or the   
   property utilities commission,” said activist Gloria La Riva, 69.   
      
   The rate hikes date back to an application filed by PG&E last year to   
   recover nearly $2.5 billion in costs, including some $688 million that the   
   company said it spent on wildfire safety work, electrical system   
   modernization and gas line safety work.   
      
   “Delaying the recovery of costs could negatively impact our ability to   
   secure competitive finance rates and increase the costs for capital   
   investments,” PG&E spokesman Mike Gazda said in a statement.   
      
   An administrative law judge approved the recovery of up to $516 million in   
   expenses, citing the need to preserve the utility company’s credit rating   
   and “effectively manage” the rate impacts for customers.   
      
   Rate increases are “appropriate in order to stabilize PG&E’s still   
   precarious financial position,” Administrative Law Judge Camille Watts-   
   Zagha wrote in her preliminary decision published March 4.   
      
   Members of the public angrily pushed back on concerns about the company’s   
   finances.   
      
   “You five who are all unelected and can make decisions for millions and   
   millions of people,” said San Francisco resident Richard Becker, 77. “You   
   have stood on the side of PG&E and other utilities as they’ve reaped   
   billions in profits.”   
      
   “We're opposing this. It’s outrageous, especially with a $2.24 billion   
   profit,” said Mark Toney, the executive director of The Utility Reform   
   Network, which filed an official objection to the rate hike.   
      
   PG&E leaders have said the company has reduced its physical and financial   
   risk in the wake of a 2019 bankruptcy filing caused by its role in deadly   
   and destructive wildfires across California in 2017 and 2018.   
      
   The company officially exited bankruptcy in 2020. In January, PG&E   
   restarted payment of its quarterly dividend, a portion of profits paid out   
   to shareholders.   
      
      
   --   
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   stupid people won't be offended.   
      
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   No collusion - Special Counsel Robert Swan Mueller III, March 2019.   
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   Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden   
   fiasco, President Trump.   
      
   Under Barack Obama's leadership, the United States of America became the   
   The World According To Garp.  Obama sold out heterosexuals for Hollywood   
   queer liberal democrat donors.   
      
   President Trump boosted the economy, reduced illegal invasions, appointed   
   dozens of judges and three SCOTUS justices.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)