PG&E Proposes New Rate Hike to Boost Shareholder Returns

The utility seeks approval for an 11.3% investor return, raising customer bills by $5.50 per month starting January 2026.

PG&E has submitted a proposal to the California Public Utilities Commission (CPUC) to increase shareholder returns to 11.3%, up from the current limit.
If approved, the proposed rate hike would raise customer bills by an additional $5.50 per month beginning in January 2026.
The utility justifies the increase by citing inflation, supply chain disruptions, climate change risks, and the need to attract investors.
Critics, including State Senator Dr. Aisha Wahab and consumer advocacy group TURN, argue the proposal prioritizes profits over affordability for customers already facing high energy costs.
Legislative efforts, such as a proposal by Dr. Wahab, aim to limit utility companies to one rate increase per year to address growing affordability concerns.