California Adopts One of Nation's Highest Fixed-Utility Fees [BNN Bloomberg (Canada)]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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Source: BNN Bloomberg
Utilities owned by PG&E Corp., Edison International and Sempra will be able to charge many customers about $24 a month starting at the end of the year to cover their infrastructure costs, according to a decision Thursday by the California Public Utilities Commission. In exchange for the higher monthly fee, which had been capped at $10, customers will also pay 5 cents to 7 cents less for each kilowatt-hour used. The fixed monthly charge will be smaller for low-income customers. The change comes as California grapples with what consumer advocates have called an affordability crisis for the state's utility customers, who now on average face the second-highest power rates in the country. Rates have doubled for many customers who are paying for utilities to spend billions of dollars to update their aging grids and work on reducing the risk of their power lines sparking more catastrophic wildfires. The new billing structure was mandated by a law signed by California Governor Gavin
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PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 5/7/24 - Form 4
- 5/1/24 - Form 4
- 4/30/24 - Form 144
- PCG's page on the SEC website