Overview
- PG&E has requested an 11.3% return on equity from the California Public Utilities Commission, citing investor risks like inflation, climate change, and wildfire mitigation.
- If approved, the rate hike would increase customer bills by $5.50 per month beginning in January 2026, making PG&E the most profitable utility in the U.S.
- The Utility Reform Network (TURN) and State Senator Aisha Wahab oppose the proposal, arguing it prioritizes shareholder profits over customer affordability.
- PG&E customers already face some of the highest energy costs in the nation, with six rate increases implemented in 2024 alone.
- State Senator Wahab has introduced legislation to limit utility companies to one rate increase per year as public criticism of rising costs intensifies.