PG&E Seeks Rate Hike to Boost Investor Returns Amid Public Backlash

The proposed increase, under review by the CPUC, would raise customer bills by $5.50 per month starting in 2026, drawing criticism over affordability and record profits.

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.