PG&E Monthly Bills Have ‘Stabilized’ and Will Drop Lower, Utility Says

Source: The Mercury News/Bay Area News Group  |  By George Avalos

The investor-owned utility posted a profit of $521 million during its April-through-June second quarter of 2025, up 0.2% from $520 million in profits for the same quarter a year ago, the company reported Thursday. Despite the relatively subdued increase in net income, Mark Toney, executive director with the consumer group The Utility Reform Network, believes that PG&E’s profits are too high.

“It’s hard to believe, but PG&E is on its way to a third straight year of record-breaking profits,” Toney said. Toney was skeptical that PG&E would be able to successfully keep bills flat or heading lower, considering the significant expenditures the company is planning, including $63 billion for capital projects in the coming years. “I am very concerned about this $63 billion capital spending plan,” Toney said. “We don’t see an end in sight to rate increases.”