PG&E is facing scrutiny after announcing its fourth price hike in 2024, leaving many California residents frustrated. Santa Maria resident Craig Bailey expressed concerns over the rising costs, saying, I’m possibly considering whether I have to leave the state now. The latest increase, approved by the California Public Utilities Commission, will raise bills by about $6 starting next month.
For residents like Stephanie Foster, who owns an electric vehicle EV, the impact is less severe. Foster said, I’m an EV owner in California and it gives me some relief on the rates.
However, Bailey, who is nearing retirement, shared that these hikes are forcing him to rethink his plans. He noted that his summer electric bill, which used to be around $40, now exceeds $200, with winter bills going over $500. It’s going to force me to get a part-time job after I retire, Bailey added.
PG&E officials explained that the increase is necessary to recover losses incurred during last year’s winter storms. The company provided aid to seven million customers and deployed over seven thousand workers to repair infrastructure, including more than four thousand poles and 850 miles of wire. Despite a 9% temporary rate reduction in July, PG&E says they are continuing efforts to lower costs for customers in the future.