Fiji & E rate hike aimed at improvements to ease fire risk

Fiji & E rate hike aimed at improvements to ease fire risk

Pacific Gas & Electric’s home customers will be affected by an average increase of 8%, and its outdated equipment will enable it to pay a one-time bankruptcy utility fee for upgrades designed to reduce the risk of a deadly wildfire in its Northern California service area. Higher prices, approved Thursday, will take effect on March 1 and FG&E is expected to increase residential customer fees by an average of $ 13.44 a month. COVID-19.California In an attempt to mitigate the spread of the virus, governments may further stifle the budgets of people who are struggling to make ends meet during an epidemic caused by a government crackdown on trade and homelessness. After two years of conflict between the BG&E and the two groups, regulators have approved the increase, as customers struggle to control how much financial burden they have to bear, a grid-wide area that provides electricity to about 16 million people for long-term neglect of use. FG & E’s outdated equipment has been blamed for a series of wildfires that killed more than 120 people in 2017 and 2018 and destroyed more than 27,000 homes and other buildings. The damage caused BG&E to file for bankruptcy in 2019, opening the way for the company to negotiate $ 25.5 billion in settlements with wildfire victims and others. The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade and adopt its equipment with other safety measures to avoid facing a financial disaster – and a public relations disaster – again. Under the agreement approved by the California regulators, BG & E will not be able to use its additional proceeds to pay for its bankruptcy settlements or to enrich a modified board of directors. In recent years. But BG&E plans to use the additional project to help improve the additional phase, and the company is taking other measures that it believes will reduce the chances of further fires around the electrical connections of additional trees. Applications aimed at reducing the amount of deliberate blackouts imposed during dry and windy weather conditions that raise wildfire risks in Northern California are also making changes. “We want to serve while delivering clean energy safely and reliably beyond the expectations of our customers. , Reducing the risk of wildfires in ever-changing climates and creating a safer and more sustainable energy system, ”said Robert Kenny, Vice President, Regulatory and External Affairs, BG&E. , California regulators were hoping to delay approval due to the financial crisis coming from the epidemic. The increase has been huge, with a portion of the 2021 increases covering last year as well. Accordingly, the app initially demanded an additional revenue of about $ 2 billion from the customer rate increase from 2020 to 2022. The final settlement approved by the regulators will instead provide an additional 15 1.15 billion to BG &.

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Pacific Gas & Electric’s home customers will suffer an average 8% increase, with its outdated equipment designed to reduce the risk of wildfires in its northern California service area in order to improve a one – time bankruptcy utility pay.

The higher prices approved on Thursday will take effect on March 1, and BG & E is expected to increase the bill for residential customers by an average of $ 13.44 a month. This could further stifle the budgets of people struggling to achieve results during a recession caused by an epidemic that is reducing governments’ trade and households in an effort to facilitate the spread of the virus that causes COVID-19.

California power regulators approved the increase after two years of clashes between BG&E and various groups struggling to control how much financial burden consumers would have to bear for the long-term boycott of a phase of power supply to about 16 million people. Over a wide area.

Fiji & E’s outdated equipment killed more than 120 people and destroyed more than 27,000 homes and other buildings in 2017 and 2018 due to a series of wildfires. The damage led to Fiji & E filing for bankruptcy in 2019, opening the way for the company to negotiate $ 25.5 billion in settlements with wildfire victims and others.

The San Francisco app emerged from bankruptcy five months ago and is now seeking to upgrade its equipment and take other safety measures to avoid facing a financial disaster – and a public relations disaster – again.

Under an agreement approved by the California regulators, BG&E will not be able to pay for its bankruptcy settlements or use its surplus revenue or enrich a board that has been modified in recent years.

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But BG & E plans to spend the extra money to help finance the stage improvements, rounding up the extra tree connections and taking other measures that the company believes will reduce the chances of further fires. Applications aimed at reducing the amount of darkness that can be imposed during dry and windy weather conditions that raise wildfire risks in Northern California are also making changes.

“We want to work to deliver clean energy safely and reliably beyond our customers’ expectations, reduce the risk of wildfires in changing climates, and build a safe and sustainable energy system,” said Robert Kenny, Vice President, Fiji & e. Regulatory and external affairs.

The Utility Reform Network, one of the groups that blocked the rate hike settlement with BG&E late last year, hoped California regulators would delay approval due to the financial crisis coming from the epidemic.

“Attacking consumers with higher bills now will only exacerbate their problems,” said Mark Tony, Turn’s managing director.

The sticker shock of the upcoming BG&E rate hikes is magnified by the time it takes to negotiate them while the application is still bankrupt. Part of the 2021 increase covers last year as well.

Customers could have been even more severely affected if there had not been opposition to BG & E’s initial plan. According to regulatory documents, the app initially demanded an additional revenue of about $ 2 billion from customer rate increases from 2020 to 2022. The final settlement approved by the regulators will instead provide an additional 15 1.15 billion to BG &.

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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