Posted on 04/24/2022 10:03:49 AM PDT by nickcarraway
Utility asks state regulators for permission to harvest more revenue from customers
In what could represent a fresh jolt for customers, PG&E is seeking state approval to capture more revenue from ratepayers to help bankroll costs for an array of facilities and operations, according to a new regulatory filing.
The utility is seeking revenue increases — which typically are extracted from ratepayers — for its estimated capital costs, the filing with the Securities and Exchange Commission states.
“In the next five years, the company projects to fund essential infrastructure investments between $40 billion and $53 billion to modernize our system with a focus on safety, reliability and clean energy solutions for customers,” PG&E said in an email to this news organization. “Additionally, PG&E is planning significant investments to improve gas system safety, reliability and resiliency, increase the use of new, innovative technologies, and expand the state’s clean energy infrastructure.”
Among the endeavors: burying 3,600 miles of electric power lines underground in a quest to reduce the odds that the company’s electrical equipment sets off another catastrophic inferno. The utility has come under intense scrutiny over the last decade for its role in a series of deadly wildfires. In 2015, the state Public Utilities Commission (PUC) imposed a $1.6 billion penalty on PG&E for causing a fatal gas explosion in San Bruno. In 2020, the PUC slapped PG&E with a $1.94 billion punishment on PG&E for causing fatal Northern California wildfires in 2017 and 2018. In both instances, the fines represented the largest regulatory penalty ever imposed on an American utility.
(Excerpt) Read more at mercurynews.com ...
Have they ever eyed lower bills?
Wait till CA gets 10 million power sucking electrical appliance vehicles on the road.
Get ready for power/electricity rationing California.☺
Apparently Californians have bottomless pockets, as governmental organizations and utilities have no concern about reaching the limits of taxpayers resources.
I remember that in the 1976-1977 drought P,G,& E raised water rates because people used less water. When the rains came and filled the reservoirs, the rates never came back down.
Why is that?
They don’t give a whit about the tax payers, except when it comes to seizing their money/assets.
If they cared about the tax payers in CA, they wouldn’t have upwards of 6 million illegals in CA looting social services meant for Americans, jamming hospitals, schools, jails etc etc.
We’re asked to conserve resources. Useage goes down. Revenue decreases. Rates go up. Repeat.
I do electrical distribution design. The amount of work, and lack of qualified people, is absolutely staggering. It’s all over the country, with approximately 75% of the design and construction being done via contractors/engineering firms.
There’s work to be done for decades, it’s crazy.
I try to tell young men to get into the industry.
I didn’t think PG&E handled water.
“Get ready for power/electricity rationing California.”
What they’ll do is shut down charging of electric cars when pressed for power. Going to suck for people who had planned to charge up at those times.
“I try to tell young men to get into the industry.”
Oh PLEASE, power isn’t nearly as sexy as electronics, computers, and communications. Why should anyone get involved with that old, dirty, stuff?
Maybe my math is no good but, PGE claims a 1% increase for utilities on a debt class of $50 billion, which would require $226 million in new revenues.
At that rate it would take over 200 years to fulfill their $50 billion obligation
PGE has a water department?
That’s pretty much what they think. It pays good money, is recession proof, and there’s perpetual work for decades.
I’m biased, but it’s heavily white male. I don’t have to worry about sexist/racist BS. The blacks and women in the field are typically intelligent, educated, and reasonable.
I dont remember that PG&E ever ran a water utility. Maybe near some dam possibly?
LOL, and very true!
Its steady work with great benefits and a really good job for a man with a family. Old school.
Speaking as a retiree from a very similar job.
“Wait till CA gets 10 million power sucking electrical appliance vehicles on the road.”
Assuming 60 miles per day, charging at 3 kw for 5 hours at night there is enough excess capacity now for those cars.
You are actually right. There is literally nobody available for a lot of infrastructure/utility specialties.
Not to my knowledge. San Jose Water Company has their own issues about insane rate increases. But on the plus side, they never blew up a town.
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