Skip to comments.Cali wildfire bailout results in electric rates 70% higher than national average
Posted on 07/21/2019 2:06:30 PM PDT by upchuck
Californias proposed $26 billion bailout of bankrupt PG&Es wildfire liability will push the states average residential electric rates to 70 percent higher than national average.
California Gov. Gavin Newsom signed a bill on July 18 that supposedly will share equally between Pacific Gas & Electric (PG&E) shareholders and its customer the estimated $21 billion liability for 2017 and 2018 wildfire losses. The deal is also contingent on PG&E and the states other two investor-owned utilities, Southern California Edison and San Diego Gas, contribute another $5 billion to cover losses.
According to the latest U.S. Energy Information Agency report, Californias residential electric rates currently average 18.05 cents per kilowatt hour (kwh) versus a national average for the other states of 13.16 cents / kwh. Despite already being 37 percent higher than the national average, the bailout will push rates up to about 22.22 cents / kwh, or almost 70 percent higher than the national average.
PG&E is the seventh largest U.S. electric utility. The company has 106,681 circuit miles of electric distribution lines, 18,466 circuit miles of interconnected transmission lines, and 24,000 employees to service 5.4 million customer accounts for 16 million residents.
The State of California has implemented a series of disastrous policies since the 1990s to slash utility profit margins, demand conversion to much more expensive sustainable electricity generation, and shriveled spending money on forest management.
The California Public Utilities Commission slashed investor-owned utilities return on shareholder equity from 13 percent in 1990 to about 9.45 percent since 2016. The very low return on equity clearly encouraged PG&E to cut back on maintenance spending.
(Excerpt) Read more at americanthinker.com ...
I’m fine with it. It’s the fault of the CA government, the CA population didn’t rein it in, CA population can pay for it.
They do that and all the remaining electric-dependent manufacturing in the state will have to consider going elsewhere.
But, let’s ban natural gas for heating, cooking and running appliances in Berkeley, CA
When I lived in OC in the 60s and electricity was the lowest in the nation.
Make it illegal to clear the brush, then sue them when the brush catches fire, then force the customers to pay the settlement.
Quite a racket.
My bills from Aiken County Electric (SC) so far in 2019 have ranged from .1433 to .1729 cents per KW.
Another reason I’m glad I don’t live in CA and feel sorry for FReepers that do.
Why hasn’t Kalifornica completely banned all power generation from Natural Gas, Coal, Nuclear - only wind and solar. And banned all gasoline, diesel, and all other petroleum based products from being in the state. Aren’t they true believers?
The film industry backs it all (every leftist Marxist deal the maniacs in Sacramento dream up) They should pay for it
As regarding fires:
“The National Park Service recorded audio of flames spreading at the heel, or the back side, of the Maple Fire August 8, 2016 in Yellowstone National Park. Recorded from about 15 feet away, the fire activity was not extremely intense, but at about 14 seconds, youll hear a small clump of lodgepole pine trees burst into flames, or torch. “
“Sounds of a forest fire in Yellowstone National Park”
This is what happens when immigration (leagal and otherwise) from 3rd world countries is allowed, Dems seize permanent control an purposefully destroy the middle-class.
And if an immediate moratorium on ALL immigration is not put in place now, this will be the fate of the entire country by the end of the 2020s.
Thanks so much
For you words,
You got a spare Couch?
No couch. But I got a futon that makes out into a full sized bed. You gonna drive, coming by air, what?
Perfect, all part of the plan. Stone Age or Bust.
Just think, if Jimmy Carter was president he could tell everyone to set their thermostat on 85 and put on a bathing suit.
We pay that and higher in the interior of Alaska. Understandable up here, a crying shame anywhere in the lower 48.
I pay 20cents a kwh when one includes the $25 monthly fee just for being hooked up. NOT the one time initial service fee. Been on a rural electric co-op since 1959.It was only 2 cents a kwh with no recurring fee 40 years ago.
Then the co-op hired managers from for profit utilities. We got higher electric rates,nasty and arrogant meter readers inplace of self-read with yearly check for accuracy,the institution of monthly fee just for available electric, and rigid bureaucracy.
Progress my ...
That is dirt pricing.
I pay $0.11** per KWH.
Unfortunately, there’s a problem with that. We have a massive shortage of Americans that can fill STEM roles so American companies (and therefore the military) stay ahead of rivals. It will take some time to train up people to do that (assuming it’s even possible, thank you failed public educational system) - so some legal immigration at least in the short term (and I’m not talking about cheap H1B workers) is to be required if you don’t want the US becoming as it was depicted in Idiocracy.
California people love paying extra for everything made in California. Makes them feel better about themselves.
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