"It's just maddening," said Matt Vespa, senior energy attorney for Earth Justice. "The utilities are going to oppose things that impact their profits. The question is does Sacramento have the political will to press ahead. And so far the answer has been no."
Among California's investor-owned utilities - Pacific Gas & Electric, Southern California Edison, and San Diego Gas & Electric - electricity rates have gone up by as much as 110% in the last decade, and more than 50% just in the last three years.
PG&E reported a record profit of $2.24 billion in 2023, reflecting a 24% increase from the previous year. The company also noted that revenues from electric customers surged nearly 50% in the second quarter of this year, compared to the same period last year.
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