PG&E's electricity rates could rise by nearly 11% annually through 2027, far outpacing inflation, according to a state regulatory report.
In 2023, PG&E bills surged by 22.3%, while Bay Area inflation rates grew by only 2.6%, indicating a significant discrepancy.
PG&E CEO Patricia Poppe expressed a vision to lower bills, contrary to the state PUC forecast that projects continual bill increases.
Despite the PUC report, PG&E maintains its commitment to limit annual bill increases to 3% through 2026, challenging the speculative nature of the forecast.
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