PG&E Announces Massive 18% Rate Hike Proposal During CA Wildfires
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Pacific Gas and Electric (PG&E) announced on Wednesday that they submitted a rate hike proposal to the California Public Utilities Commission, asking for a large 18% rise over current energy rates. If approved, rates would be moved up by 4%-5% each year beginning in 2023 and ending in 2026. The rate hike, which will bring in an estimated $3.6 billion from 2022 figures to 2023 figures alone, would go to pay for wildfire reduction efforts including expanded tree thinning and brush clearing, the removal of overhead power lines in favor of underground lines, better system safety technology, and electrical line repairs.
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