{"id":468,"date":"2018-07-25T09:49:35","date_gmt":"2018-07-25T16:49:35","guid":{"rendered":"https:\/\/delsolenergy.com\/?p=468"},"modified":"2023-03-26T11:01:17","modified_gmt":"2023-03-26T18:01:17","slug":"pge-rate-increase","status":"publish","type":"post","link":"https:\/\/delsolenergy.com\/pge-rate-increase\/","title":{"rendered":"PG&E Rate Increase"},"content":{"rendered":"

Another Predicted PG&E Rate Increase for Customers <\/strong><\/h3>\n

One of the benefits that most solar companies will introduce to new or potential customers is the idea of \u201cowning your own utility\u201d<\/strong> \u2013 meaning, that as time passes and the finance option selected for the initial construction of installing the residential or commercial solar installation, any energy your solar panels produced would be something you owned and didn\u2019t have to compensate anyone for.\u00a0 Outside of the idea of having access to a renewable, unlimited, clean energy source for free, owning your own utility gives a homeowner a bit of power and foresight for unpredictable changes in the utility market that could spike the cost of electricity. \u00a0And unfortunately, for PG&E dependent consumers, there is another PG&E Rate increase on the horizon.<\/p>\n

Reliving Tragedy<\/strong><\/p>\n

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Fires ravaged Northern California in October of 2017.\u00a0 What became known as the Wine Country Blazes, that included the Redwood fire, Atlas fire, and the Nuns fire, many lives were lost as the nearly 52,000 acres of land burned.\u00a0 The California Department of Forestry and Fire Protection presented evidence of alleged violations of state law by PG&E in connection with 8 of the 12 fires that its equipment sparked and started the sweeping fires.\u00a0 Thousands of homes, 44 people and at least $12 billion in insurance claims.\u00a0 Under California law, if PG&E can be held liable for the costs if their equipment is found to have caused fire, even if they followed all safety rules. Since the fire broke out, the San Francisco based company, PG&E has lost almost $14 billion in market value and thousands of people are fighting to rebuild their communities.<\/p>\n

\u00a0<\/strong>Implications <\/strong><\/p>\n

The implications for the wildfire are expansive and numerous.\u00a0 However, when it comes to electric consumers in Northern California, there are some assertive points to be recognized.<\/p>\n

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First, PG&E has lost an incredible amount in market value, number nearly equitable to the damage the alleged fires resulted in.\u00a0 Concern for both shareholders of PG&E and consumers is that the pending lawsuits could bankrupt PG&E.\u00a0 A bankruptcy could deeply hurt both tax payers, and further damage the victims of the fire.\u00a0 Experts explain that a PG&E bankruptcy could result in court decisions reclassifying company activities and restricting, meaning fire victim clams could lay in limbo for decades to come.<\/p>\n

Second, a bankruptcy could gravely impact local consumers, families and the economy.\u00a0 PG&E has over 20,000 employees.\u00a0 The risk of 20,000 people losing their job is an area for concern.\u00a0 Additionally, for the utility consumer, what would replace what is currently known as PG&E is unknown, meaning an unknown in structure, costs or fees associated with energy use in the future.<\/p>\n

Proposed Legislation <\/strong><\/p>\n

Recently, an East Bay legislator proposed a new bill to help cover the losses of the fire. Specifically, the bill would make PG&E customers cover the cost of settling lawsuits from last year\u2019s wildfire.\u00a0 The proposed bill (AB 33)<\/a> PG&E could ask its regulators at the California Public Utilities Commission to authorize the issuance of \u201crecovery bonds\u201d to be paid off by the company\u2019s customers through fixed monthly charges on their bills.\u00a0 If the commission later determined that PG&E was negligent in the fires, the commission could credit money already spent back to the customers.<\/p>\n

The benefit of the legislation proposed is that it would allow the company to avoid bankruptcy and ensure continuity of jobs and utility service.<\/p>\n

The Solar Solution<\/strong><\/p>\n

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