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Cali wildfire bailout results in electric rates 70% higher than national average
American Thinker ^ | July 21, 2019 | Chriss Street

Posted on 07/21/2019 2:06:30 PM PDT by upchuck

California’s proposed $26 billion bailout of bankrupt PG&E’s wildfire liability will push the state’s 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 state’s 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, California’s 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 ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events; US: California
KEYWORDS: california; electricity; energy; gavinnewsom; pge; wildfire
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To: upchuck

My rate in Virginia is 14.8 cents including all taxes (bill amount / kWh). My rate per kWh would be even lower if I used more electricity.


21 posted on 07/21/2019 2:52:10 PM PDT by palmer (...if we do not have strong families and strong values, then we will be weak and we will not survive)
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To: SecondAmendment

I have told many people on here that sooner or later they’ll all be California. They don’t believe it.


22 posted on 07/21/2019 2:54:04 PM PDT by sheana
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To: upchuck

CA electrical rates were already a major rip-off. I don’t know how the lower income or elderly fixed income folks can keep up.


23 posted on 07/21/2019 2:55:28 PM PDT by dragnet2 (diversion and evasion are tools of deceit)
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To: upchuck

I wonder how much newsoms lawyer buddies are getting. Guaranteed it’s a fleece job


24 posted on 07/21/2019 2:55:55 PM PDT by Track9
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To: Steely Tom

Do you always say stupid things, or just today?

I would remind you that trump collects more donations from Californians than anywhere else. So your arrogant uninformed comments are wrong, in addition to just being obnoxious.


25 posted on 07/21/2019 2:57:09 PM PDT by Okeydoker
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To: upchuck

This is all so,so,so very,very sad. Am I right? (: / :).

OOPS, maybe I meant ): / :(


26 posted on 07/21/2019 2:57:53 PM PDT by A strike (Import third world become third world)
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To: upchuck

I’m sure Gavin Nobrain will find a way for the taxpayers to pay the gas bill for illegal aliens.


27 posted on 07/21/2019 3:01:01 PM PDT by antidemoncrat (yawn)
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To: Okeydoker

If this proposal goes through, those donations will very likely decrease significantly.


28 posted on 07/21/2019 3:01:11 PM PDT by dragnet2 (diversion and evasion are tools of deceit)
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To: A strike

“Under my plan electricity rates would necessarily skyrocket.”

Guess who (along with his “fundamental transformation”) ?


29 posted on 07/21/2019 3:02:20 PM PDT by A strike (Import third world become third world)
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To: upchuck

I live in Central Florida, with Duke Power, and my electric cost last month was .1245 cents per KWH.


30 posted on 07/21/2019 3:02:20 PM PDT by FLCowboy, (Democrats relish groveling in the dirt)
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To: Vendome

Well not’ban’ ban. They grandfathered in everyone who currently has it.

They basically made every natural gas place a nyc cab medallion license holder.


31 posted on 07/21/2019 3:04:07 PM PDT by Secret Agent Man (Gone Galt; Not Averse to Going Bronson.)
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To: Okeydoker

Pfft. Who do you think you’re fooling? I’ve been to California. I’ve bought lunch in Santa Cruz. Cost twice what it does where I live, and it was mediocre to boot.

You don’t like the California “attitude tax” ? Don’t blame me for it.


32 posted on 07/21/2019 3:04:25 PM PDT by Steely Tom ([Seth Rich] == [the Democrat's John Dean])
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To: DownInFlames

Cali is the 60 year experiment in socialism. By every standard they have failed, and all of it, easily predictably so.


33 posted on 07/21/2019 3:05:50 PM PDT by Secret Agent Man (Gone Galt; Not Averse to Going Bronson.)
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To: upchuck

That is the price you pay for neglecting your forests and having them turn into tinder fields.


34 posted on 07/21/2019 3:06:05 PM PDT by bray (Pray for President Trump)
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To: Deaf Smith

I am at the ave, .1311 per kwh. but it will be going up.


35 posted on 07/21/2019 3:08:26 PM PDT by Secret Agent Man (Gone Galt; Not Averse to Going Bronson.)
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To: All; upchuck

The article is way off on “current price”...the last time the CA price per KWH was 18 cents was 2011. I live within 10 miles of “FR HQ” and my last bill was 24 cents per KWH.


36 posted on 07/21/2019 3:11:07 PM PDT by Drago
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To: upchuck

Pushing SOLAR POWER on CALIFORNIANS instead of water power.


37 posted on 07/21/2019 3:13:25 PM PDT by stars & stripes forever (Blessed is the nation whose God is the Lord. (Psalm 32:12))
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To: upchuck

and all those customers who drive electric cars are happy? Sad? Angry? ready to leave if only their cars held enough charge to get them over the mountains ...?


38 posted on 07/21/2019 3:15:33 PM PDT by PIF (They came for me and mine ... now it is your turn ...)
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To: upchuck

There’s almost nothing more corrupted than californication’s utility “regulation,” which observation includes the legislature and governors imho and that of probably millions more - thinking of the Maria except the mafia did have a code of honor


39 posted on 07/21/2019 3:27:20 PM PDT by faithhopecharity ( “Politicians are not born; they are excreted.” Marcus Tullius Cicero (106 to 43 BCE))
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To: upchuck

I lived there. I escaped. California sucks...big time.


40 posted on 07/21/2019 3:27:43 PM PDT by mort56
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