Increase PG and E rates aimed at improving fire risk

Increase PG and E rates aimed at improving fire risk

Pacific Gas & Electric’s domestic customers will be affected by an average rate increase of 8% in one-time bankruptcy utility payments for improvements designed to reduce the risks that would burn deadly wildlife in its Northern California service area. Higher prices, valid on Thursday, will come into effect from March 1, and PG & Ina’s residential customer bills are expected to increase by an average of .4 13.44 per month. The epidemic could put further strain on the budgets of those struggling to cope during the recession, which could lead to the government reducing the number of commercial and coral people at home in an effort to ease the spread of the virus, leading to COVID-19. Regulators approved the increase after two years of squabbling between California power PG&E and various groups, including how much of a financial burden consumers must bear to neglect the utility’s long-running grid, which supplies electricity to about 16 million people. Scattered area.P.G. And Ina’s old equipment was blamed for a series of wildfires between 2017 and 2018 that killed more than 120 people and destroyed more than 27,000 homes and other buildings. Because of these losses, PG&E filed for bankruptcy in 2019, paving the way for the company to negotiate આગ 25.5 billion in settlements with forest fire victims and others. The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade and adopt its devices. Other safety measures to prevent financial disaster – and the destruction of public relations – again. Under an agreement approved by California regulators, P.G. And E will not be able to use any of its extra income to pay for its bankruptcy settlements or to enrich its executive team. In recent years. But PG&E will use the extra money to improve the grid, take additional trees and other measures trimmed around power lines as the company believes more fires will be less likely to spread. The utility is also making changes aimed at reducing the scope for intentional blackouts during dry and windy weather conditions that increase the risk of wildfires in Northern California. “We want to do more than our customers expect when it comes to delivering safe and reliable clean utilities,” said Robert Kenny, PG and E-Vice President of Regular and External Affairs. With PG&E late last year, it was expected that California regulators would delay approval due to epidemic-related financial strain. “Hitting customers with higher bills now will only increase their problems,” March Tony said. K, executive director of Turn, said the sticker shock utility was still in bankruptcy when the next PG and E rate hike was negotiated with him. The utility originally sought an additional revenue of about 2 2 billion, with consumer rates rising from 2020 to 2022, according to regulatory documents. The final settlement approved by Cars would provide an additional 1. 15.15 billion in lieu of PG&E.

See also  Is capitalism responsible for climate change? - Business

Pacific Gas & Electric’s domestic customers will be affected by an average rate increase of 8% in one-time bankruptcy utility payments for improvements designed to reduce the risks that would burn deadly wildlife in its Northern California service area.

The prices, approved on Thursday, will take effect March 1, and PG & Ina’s residential customer bills are expected to rise by an average of .4 13.44 a month. Conflicts caused by the epidemic could further strain people’s budgets, prompting the government to reduce the number of home-grown commercial and coral people in an effort to ease the spread of the virus that causes COVD-19.

California’s power regulators have approved the increase after two years of squabbling between PG&E and various groups, fighting the limits of how much financial burden consumers must bear for the long-running neglect of a utility that supplies electricity to nearly 16 million people. In a wide area.

PG and Ina’s old equipment were blamed for a series of wildfires during 2017 and 2018, which killed more than 120 people and destroyed more than 27,000 homes and other buildings. Because of these losses, PG & EA filed for bankruptcy in 2019, paving the way for the company to negotiate જંગ 25.5 billion in settlements with forest fire victims and others.

The San Francisco utility went bankrupt five months ago and now seeks to improve its appliances and adopt other safety measures to avoid a financial disaster – and the destruction of public relations.

Under the agreement, approved by California regulators, PG&E will not be able to use any of its excess revenue to pay for its bankruptcy settlements or to enrich its revised executive team in recent years.

See also  Coronavirus-strike Qantas posts £1bn yearly reduction

But PG&E will use the extra money to improve the grid, take additional trees and other measures around power lines as the company believes more fires will be less likely to spread. The utility is also making changes to reduce the scope for blackouts imposed during dry and windy weather conditions that increase the risk of wildfires in Northern California.

“We want to do more than our customers expect when it comes to reducing the risk of wildfires in a changing environment and delivering safety and reliability to build a safe and sustainable energy system,” said Robert Kenny, vice president of PG and ENA. Regulatory and external affairs.

The Utility Reform Network, a group that negotiated a rate hike with PG&E late last year, expressed hope that California regulators would delay approval due to the financial strain caused by the epidemic.

Mark Tony, executive director of Turn, said hitting customers with higher bills now would only exacerbate their problems.

The sticker mourning of the upcoming PG&E rate hike while the utility was still in bankruptcy has increased the amount of time it took to negotiate with it. The 2021 episode also covers the previous year.

Consumers would have been hit harder if not for the resistance of PG & E’s initial plan. Utilities originally sought an additional revenue of about 2 2 billion, with consumer rates rising from 2020 to 2022, according to regulatory documents. The final settlement, approved by regulators, would provide an additional 15 15.15 billion in lieu of PG&E.

LEAVE A REPLY

Please enter your comment!
Please enter your name here