Pacific Gas and Electric’s customers were warned about the cost of massive wildfires that it may have sparked. Even before California’s largest utility filed bankruptcy proceedings at the start of the year, lawyers, policymakers and consumer advocates all cautioned that the company’s liabilities in those fires would, one way or another, hit the pocketbooks of its 16 million customers.
So how much could consumers throughout northern and central California be facing in higher costs?
We don’t have a full picture yet. We do know PG&E is seeking double-digit rate increases to help reduce the risk of future fires. But there isn’t agreement yet on how much the company will be held financially responsible for the deadly and destructive wildfires in 2017 and 2018. And we don’t know how much of that liability might be passed on.View Article