Two days after PG&E announced an across-the-board credit for residential customers, the utility is requesting yet another rate hike, NBC Bay Area has learned.
If approved, it would mark the seventh PG&E rate hike since the beginning of 2024. Two have yet to take effect.
If regulators approve the latest request, customer rates would increase an average of $5.50 a month starting next year.
Since the start of 2024, average yearly rates are about $440 higher and have doubled since 2022.
In a statement, PG&E cited a need to protect investors from the potential risks of doing business in California amid concerns about inflation and supply-chain issues.
Source: NBC Bay Area
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