Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-94 next last
To: dragnet2
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.

With all the rip off the elderly, as well as the lower income families, are totally broke. They rely on help from relatives and credit cards, which are being maxed out.

61 posted on 07/21/2019 4:20:23 PM PDT by Logical me
[ Post Reply | Private Reply | To 23 | View Replies]

To: Deaf Smith

8.4 cents here in Kentucky. Thank goodness for coal fired power plants.


62 posted on 07/21/2019 4:30:09 PM PDT by hardspunned
[ Post Reply | Private Reply | To 18 | View Replies]

To: Jeff Chandler
Also, the weather is quite mild throughout much of the state. I grew up in La Mirada

You're referring to the coastal plain regions. What about inland, like Riverside, San Berdo, the high deserts etc?

I would guess the lower income and fixed income folks will get hammered with these punitive increases.

63 posted on 07/21/2019 4:41:34 PM PDT by dragnet2 (diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 49 | View Replies]

To: dragnet2
You're referring to the coastal plain regions.

AKA the densely populated areas.

64 posted on 07/21/2019 4:49:47 PM PDT by Jeff Chandler (This Space For Rant)
[ Post Reply | Private Reply | To 63 | View Replies]

To: Vendome

The Berkeley ban on natural gas will spread like a wildfire...or an avalanche...or an earthquake...or a flood...take your pick, Californians!!

Yet the above disasters only compete for second place in California’s disaster list. The Democrats are first!


65 posted on 07/21/2019 4:50:02 PM PDT by RossA
[ Post Reply | Private Reply | To 3 | View Replies]

To: Steely Tom

No one ripped you off because youre a tourist.

And no one insulted you.

You need some counseling. Paranoia is not a normal state.


66 posted on 07/21/2019 5:08:45 PM PDT by Okeydoker
[ Post Reply | Private Reply | To 55 | View Replies]

To: Jeff Chandler

That is true, but there are still millions inland who will be hammered by these punitive electrical rates. In addition, those on the coastal plains will still be hit with significant higher electric bills, as they still use power for everything, not just A/C.


67 posted on 07/21/2019 5:09:28 PM PDT by dragnet2 (diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 64 | View Replies]

To: rockinqsranch

Weird. I live there, same utility. 3 people in house, 2 electric cars, bill went from $40 to $53 with the ac credit. All lites are led.


68 posted on 07/21/2019 5:15:26 PM PDT by Okeydoker
[ Post Reply | Private Reply | To 57 | View Replies]

To: rockinqsranch

I knew people who lived in western Riverside and San Berdo counties who were paying well over 500 per month during summer and that was about 7 years ago...Wait till they get hit with these new rate$!


69 posted on 07/21/2019 5:20:51 PM PDT by dragnet2 (diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 57 | View Replies]

To: Spktyr
> 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.

I respectfully disagree, since I believe the "STEM crisis" is mostly propaganda put forth by leftists as another excuse to flood the country with Third world immigrants, and to displace (and deny employment for) native born Americans.

70 posted on 07/21/2019 5:20:56 PM PDT by SecondAmendment (This just proves my latest theory ... LEFTISTS RUIN EVERYTHING!)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Okeydoker

Incredible! Never had a bill that low in the 32 years we’ve been at this address.


71 posted on 07/21/2019 5:27:16 PM PDT by rockinqsranch (Dems, Libs, Socialists call 'em what you will they all have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 68 | View Replies]

To: dragnet2

We have surpassed $500.00 electrical in the past. It’s easy to do in California.


72 posted on 07/21/2019 5:29:47 PM PDT by rockinqsranch (Dems, Libs, Socialists call 'em what you will they all have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 69 | View Replies]

To: rockinqsranch

Summer with the ac credit used to run 15. Now rates went up this last year plus 2 plug ins, up to 40-45. Use the ac and its 50-60.

Winter with the FA heater 50-60, x,as lights, etc could go as hi as 75-80$.


73 posted on 07/21/2019 5:35:17 PM PDT by Okeydoker
[ Post Reply | Private Reply | To 71 | View Replies]

To: Okeydoker

You in an RV, or what!?


74 posted on 07/21/2019 5:45:31 PM PDT by rockinqsranch (Dems, Libs, Socialists call 'em what you will they all have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 73 | View Replies]

To: Spktyr

Good for us

Solar contractor since 1990


75 posted on 07/21/2019 6:41:08 PM PDT by Truthoverpower (The guvmint you get is the Trump winning express !)
[ Post Reply | Private Reply | To 2 | View Replies]

To: upchuck

Yay!!!!!, higher prices!
Gas, electric, water etc.
Fat pensions all around except for the peasants.


76 posted on 07/21/2019 6:54:28 PM PDT by minnesota_bound
[ Post Reply | Private Reply | To 1 | View Replies]

To: hardspunned; upchuck

I’ve gone over your heads that upchuck wrote that he paid as low as 0.1433 of a Penny per KW.


77 posted on 07/21/2019 6:55:03 PM PDT by Deaf Smith (When a Texan takes his chances, chances will be taken that's fore sure)
[ Post Reply | Private Reply | To 62 | View Replies]

To: Big Red Badger

Got any plans as to where you’ll go when you escape?


78 posted on 07/21/2019 6:55:58 PM PDT by upchuck (No muzzy is fit to hold public office - their cult (religion) is incompatible with the Constitution.)
[ Post Reply | Private Reply | To 50 | View Replies]

To: upchuck

And California cities are trying to ban natural gas, too, driving up electricity demand.


79 posted on 07/21/2019 7:09:08 PM PDT by tbw2
[ Post Reply | Private Reply | To 1 | View Replies]

To: bagster

ping


80 posted on 07/21/2019 7:33:06 PM PDT by ransomnote (IN GOD WE TRUST)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-94 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson