Pace of PG&E Profit and Revenue Increases Start to Slow as Bills Ease

Source: The Press Democrat  |  By George Avalos

PG&E’s profits and revenues rose during 2025, but at a reduced pace compared with prior years, in a sign that the utility’s vow to rein in bill increases has begun to materialize.  The investor-owned utility posted a profit of $2.59 billion in 2025, 4.8% higher than the $2.48 billion in profit in 2024, PG&E reported Thursday as part of the release of its latest financial results. Thursday’s news came on the heels of the company’s report at the end of 2025 that monthly bills for residential customers who receive combined electricity and gas services would drop starting in January. Some critics of PG&E, however, believe that the company’s profits remain too high and that its primary regulator, the state Public Utilities Commission, has failed in its role as a watchdog.  Mark Toney, executive director of The Utility Reform Network, said PG&E’s profits have emerged at a time when customers must still wrestle with significant power failures.

“PG&E needs to match its outstanding performance for shareholders with reliable service for its customers, hundreds of thousands of whom have lost power unexpectedly and repeatedly over the past few months,” Toney said.  Toney also said the state Legislature needs to act to help rein in profits for California’s big utilities.