Well, seeing as I am a PG&E customer, this sucks. Because of the recent wildfires, Pacific Gas and Electric’s insurance rates are going up. And guess who those higher rates are probably being passed on to? Yep, customers!
According to CBS 13, liability insurance costs for the company have increased 140 percent since the fires last October. Because of that, PG&E estimates that customer’s bills will increase around $150 a year.
Now, any price hikes have to be approved by regulators, and Mindy Spatt with the Utility Reform Network said the following. “It is a long-standing principle of utility law that – when a utility makes mistakes as PG&E did – it’s shareholders, not consumers, they should pick up the tab.”