Six utilities serving more than 21 million Californians have announced that they will not shut off customers’ power for non-payment as the coronavirus continues to disrupt daily life.
The California Public Utilities Commission ruled Thursday that profit margins will remain the same at the state’s major utilities, denying the companies the higher shareholder returns they had sought.
California’s monopoly electric utilities asked state officials to sign off on higher profits earlier this year, saying larger shareholder returns were needed to attract investors who might be scared off
California senators approved a proposal Monday aimed at stabilizing the state’s electric utilities and putting a renewed focus on safety in the face of devastating wildfires caused by utility equipment,
Raising Rates for Essential Needs During COVID is Wrong
With lower-income Californians bearing the brunt of the pandemic economically, utilities are still rapidly raising rates for essential heat and light despite the COVID crisis. Constantly raising rates is wrong.