‘Outrageous and unacceptable’: PG&E’s massive 2023 profit frustrates customers

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(KRON) – Some PG&E customers are distressed after listening to the energy raised its profit by practically 25 percent in 2015, while customers have actually seen their prices rise. 

PG&E simply reported a profit for 2023 of $2.24 billion. That comes complying with a collection of price walks that have actually made consumer costs skyrocket.

“The situation is becoming kind of untenable now. It just keeps eating into the money that we can use to live,” claimed Fremont local Robert Carter. 

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For its component, PG&E claimed, “We’re excited about the future we’re creating for our customers and investors — differentiating ourselves on safety and financial performance while building a system that meets the climate challenges of tomorrow.”

Mark Toney with the Utility Reform Network thinks it’s time the California Public Utilities Commission quits rubber-stamping these price walks and does what he states is ideal for customers.

“The fact that PG&E is booking record profits for shareholders while ratepaying customers have record high bills is completely outrageous and unacceptable,” he claimed. “Turn has been calling for a cap to annual rate no higher than the cost of living adjustment that’s provided each year by social security.”

Whether that will certainly obtain any type of grip is unidentified. Right currently, customers are handling a 13% PG&E price trek that entered into impact at the start of the year. Carter states it’s all reaching be excessive and his following action might run out California.

“Starting a family, raising a family… just the economics just don’t work out.”



https://www.kron4.com/news/bay-area/outrageous-and-unacceptable-pges-massive-2023-profit-frustrates-customers/

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