America’s Largest Utility Jacks ups Rates Most since 2006 Despite Collapse of Natural Gas Prices

[marmar]

(WolfStreet) “We want our customers and their families to know that we are here to help them make smart energy choices and save money whenever possible,” cooed Laurie Giammona, senior VP and chief customer officer of Pacific Gas and Electric, on Wednesday between Christmas and New Year’s, when no one was supposed to pay attention.

It was the propitious day when the beloved utility that distributes gas and electricity in the northern two-thirds of California announced that on January 1st it would jack up its rates.

America’s largest electric utility and the second largest gas utility by number of customers, the utility whose 2010 gas-pipeline explosion in San Bruno, just south of San Francisco, killed 8 people, injured another 66, and burned down 38 homes, the utility that is still digging in its heels after five years since the explosion and is now under investigation by the California Public Utilities Commission because it failed to deliver certain documents, the very same PUC that is being probed by a federal grand jury for potential illegal ties between the regulators and the executives of PG&E in this ballooning corruption scandal … well, this beloved utility now has announced a very special New Year’s resolution.

It will hike natural gas rates for the average residential customer by 4.0% and electricity rates by a stunning 8.5%, for a combined rate increase of 7%, the steepest since 2006.

The average small business is going to get whacked by a combined rate increase of 5.1%. ................(more)

http://wolfstreet.com/2016/01/01/happy-new-year-americas-largest-utility-jacks-up-rates-the-most-since-2006-despite-total-collapse-of-natural-gas-prices/

[onecaliberal]

1. The PUC is investigating PG&E?!? That's rich.

Maybe they can start by turning down requests from PGE to increase rates!!!
This is what deregulation gave us.

[Munificence]

2. So basically

the customers are going to be paying for their need to update.....and they are still paying out nice dividends and showing a large profit on their books each year.

Um, why can't they finance that shit themselves? Oh, that's right, the powers that be are in bed with them, can't see stock holders take a hit but will let them beat up on the little guys.

"Public Utilities" should be public, not private. If I was in Cali I'd start thinking long and hard about going solar. I am close to going solar here on the other side of the U.S and in my state we don't get paid as much for selling back to the grid nor have any state level initiative to help sway us to go solar. But we are at the point where it is really "close" to being able to say it's worth it. Without the Fed tax credit it is def not at this point.

[daleo]

3. I went solar

We have a grid tie system, so you get the same rate for power that you produce, as power that you sell. The "wire charges" are still there year round. Basically, if I look at the amortized costs over 20-25 years, we are paying more than we would by buying straight from the utility. But it cost about the same as our kitchen reno (15 thousand), and it is an environmental gesture that anyone driving by can see. I think of it as advertising for alternative energy. Plus, if costs go up, we are insulated.

And it just makes us feel good.