PG&E requests another rate increase. Here's how much you could pay in 2024

SAN JOSE, Calif. (KGO) -- Get ready to pay more on your electric bill. Last month, the California Public Utilities Commission approved a nearly 13% rate hike which you'll start seeing that on your bills starting Jan. 1.

But now, PG&E has requested another hike and they're asking for another $2 billion.

"Every increase that you hear about is just the tip of the iceberg,' The Utility Reform Network exec. director Mark Toney said. "And every increase that gets approved by the California Public Utilities Commission stacks on top of each other."

If PG&E receives approval for their latest rate increase request, customers are actually looking at paying around $50 or $60 a month more next year compared to 2023.

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PG&E's request to the CPUC would be for an additional nearly $2 billion in rate increases that would go into electric rates in March 2024.

The Utility Reform Network, or TURN, says the company wants to start collecting those increases from customers before the CPUC has even completed a proceeding with all parties involved.

PG&E says they are working to make up costs from the last two years to make their electric system safer and more resilient.

They told us: "To achieve those goals, we sometimes have to incur exceptional costs to reduce wildfire risk and/or respond to emergency events like wildfires and storms, which exceed what we've previously been authorized to spend in rate proceedings."

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"It continues to go up," San Jose resident David Bender said. "Why? For their misdeeds? It's ridiculous. Why are we paying for them not trimming the trees, turning off the power in high winds? Why are we paying for their mistakes? Makes no sense."

Toney agrees with the community's concerns and is calling for a change in policy to stop the hikes.

He says unlimited increases are simply not sustainable and they are poised to launch a campaign for affordable power, aka CAP.

"The current system we have sets no limits on rate increases and that needs to be replaced by a cap on annual bills set on the cost of living adjustment provided by social security," Toney said.

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