PG&E Rate Hikes Forecasted

PG&E wants to significantly raise electricity rates over the next three years and increase its state-guaranteed return on capital investments. Customers have already been warned about potential rate hikes due to the recent wildfires and PG&E is seeking a double digit percentage rate hike to help reduce the risk of future fires. Customers are already paying some of the highest electricity rates in the state and in the country. The Bay Area utility’s average rate is 20.06 cents per kilowatt hour, compared with an average 16.06 cents in Southern California and 10.48 cents nationally. In the past decade, PG&E’s rates have been going up faster than inflation. According to the Public Advocates Office, residential rates have risen 31% between 2009 and 2019 — higher than the consumer price index of 19%. PG&E has asked for a 12.4% rate increase in 2020, 4.7% increase in 2021, and 4.8% increase in 2022. That’s nearly a 22% rise. PG&E says much of the extra money is needed for fire-safety improvements such as more fire-resistant poles, covered power lines, new weather stations, and high-definition field cameras. Also, PG&E is seeking a raise on the guaranteed rate of return on capital investments so if both of these requests pass then homeowners will be paying $300 on average more each year for electricity. Do you want to keep paying more to PG&E when you could switch over to an investment that pays you? Each dollar you put towards Solar is a dollar that will multiply and come back to you over time while putting you on the side of the solution for battling climate change. Feel free to email us at Office@AllyElectricAndSolar.com or call us at 510-559-7700 for your free Solar Proposal!