On a 4-1 Vote, State Utilities Commission Slightly Lowers SDG&E’s Profit Rate

Source: The San Diego Union Tribune  |  By Rob Nikolewski

The California Public Utilities Commission on Thursday trimmed the rates of profit that investor-owned utilities such as San Diego Gas & Electric will make on their energy infrastructure projects — although consumer and environmental groups said the CPUC’s reductions should have cut deeper.  

“Revising the cost of capital decision in favor of utility shareholders is more than just buckling under pressure from PG&E and other major utilities,” TURN executive director Mark Toney said.  “It is part of a disturbing pattern of commissioners disregarding proposals to address the affordability crisis issued by their own judges and staff, based upon evidence presented by all parties in ratemaking cases. This is a clear sign that the Legislature needs to take more action to address the affordability crisis, because the CPUC has failed to do so."