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 ...
What the TwitTwat Squad thinks of us:
We are evil despicable deplorable Conservatives. We have undocumented, guest, migrant, noble, indigenous, organic soon-to-be Dem voters chained to big hamster wheels so we can
Get our lectricitee fo freeeeeeee.
Ask them, theyll tell you what they think of you. They dont hide it anymore.
The rate increases were planned way before the fires. They are just using the fires as an excuse.
CA just wants people to cut back on the use of electricity.
Soooo, why were the fires the fault of the utility?
Privatize the profits, socialize the costs.
Is this a great country or what?
Congrats.
Electricity prices for Arizona customers served by SRP:
Energy is priced per kilowatt-hour (kWh): if you use a 1 kW appliance for three hours, you use 3 kWh of electricity.
Winter (November through April)
7.82 cents per kilowatt hour
Summer (May, June, September, October)
11.34 cents per kilowatt hour.
Summer Peak (July, August)
12.70 cents per kilowatt hour.
https://www.srpnet.com/prices/home/basic.aspx
Don’t give them any more ideas.
They are on their way to ban all energy production.
Nice rates!
Many homes in California use natural gas for cooking, heating, and hot water. Also, the weather is quite mild throughout much of the state. I grew up in La Mirada -- on the edge of Orange County -- and there were only two or three weeks in the year when we used air conditioning.
Just bought a new
Truck for my
Escape from California.
Futons are fine,
Thanks!
Your an idiot if you think we have an “attitude tax”. Prices in general are higher here because we have a higher standard of living and the taxes are higher. The pay is also higher.
Having lunch in santa cruz just proves yourre a Tourist . Nothing new there.
My bill from Entergy in Montgomery County, TX...
Electricity alone .071 cents per KwH
All up with all taxes and fees included is 0.115 cents per KwH
Texas has its own electricity grid, independent and separate from the rest of the US.
Naw, I Know that.
They banned it for new construction.
Really sweet of them to increase the cost of living..
So you rip off tourists, then insult them, but expect them to have sympathy for your problems.
You really are a Californian.
“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.”
***********************************************
Brother, you’ve swallowed the kool-aid put out by the Globalists and major corporations looking for relatively cheap labor. Instead of the SIGNING the pending bill to allow the import and employment of 600,000 Indians AND THEIR FAMILIES, PRESIDENT TRUMP should veto it and ask Congress to instead send him legislation that subsidizes and encourages American companies to recruit and train AMERICAN CITIZENS for IT jobs.
American companies used to do this AND THRIVED. This requires initial investment of foods and time but the eventual payoff is significant — both for the corporation, the community and the nation.
MAGA, brother!!
Aiken eh. I have an old friend from high school days here in California that moved to Aiken many years ago. I guess he had a crystal ball.
Anyway upon reading your post I grabbed the latest SCE invoice, and I post the following:
Electric Rate Riverside, California SCE
Base: .19kwh up to 567kwh
2nd tier: .25kwh to 954kwh
3rd tier: .43kwh
This is currently what we are being charged in Riverside County. Last bill was $347.00 for one month, and that is relatively low. Our usage is down a tad in our totally electric home as we had a couple of cool weeks in late June, early July. Over $400.00 a month in the Summer is the norm.
Imagine what our electrical costs to live in this State will be when they jack up the rates 70%.
Given that the excerpt below from 2017 FR thread reasonably suggests that California is producing more solar energy than it knows what to do with, California solar power FReepers please let us know if your electric rates go up with respect to alleged 70% higher rates.
"In fact, the California is generating so much solar energy that it is resorting to paying other states to take the excess electricity in order to prevent overloading power lines.”—California is embarrassing the rest of the country with the amount of solar energy it's producing, 6/26/2017.
Note the date on the referenced article is 26 June 2017.
(If I understand above excerpt correctly, is California really paying other states to take its excess electric power to prevent overloading its power grid?)
Also, note that the original Yahoo article referenced in 2017 FR thread seems to have disappeared, although what appear to be reasonable clone articles can be found with DuckDuckGo. Corrections welcome.
Don't allow cutting brush near power lines, then blame the power line company for the fire, this is what happens! Great lesson boys and girls, companies do not pay fines or taxes! They pass them along to their customers, or go broke and leave a mess.
Nice, California...
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