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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.

Sep 25, 2019 San Ramon / CA / USA – PG&E (Pacific Gas and Electric Company) sign at their headquarters in East San Francisco Bay Area
Stock image/file photo: U.S. Dollars and plug laid over a utility bill.
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Overview

  • 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.