by Natura Naturans
‘Clean energy leader’ PG&E Filing Bankruptcy – rejects investor bailout – massive rate hike looms
Anthony Watts / 1 hour ago January 29, 2019
If only they’d spent more money on keeping their infrastructure maintained instead of chasing green dreams.
PG&E is also answering to federal judge William Alsup, who is overseeing its probation following the 2010 San Bruno pipeline explosion. Earlier this month, Alsup asked the utility to invest in electrical infrastructure renovations costing up to $150 billion to “reduce to zero the number of wildfires caused by PG&E in the 2019 wildfire season,” according to the San Francisco Chronicle.
PG&E said it’s possible that paying $150 billion could result in “an estimated one-year increase of more than five times current rates.”
I’m from California and the raise in rates will kill the economy. You can’t tell people who pay $100 a month for electricity it now costs them $500. a month.
I tried to call my sister today who lives in Cali to tell her about this. She has a heat pump that she hasn’t used in years because they are in the boonies and use a wood stove for heating. Now as she gets older and unable to use the wood stove as much the best alternative is propane, electricity would be prohibitive.