Power Bills in California have Jumped Nearly 50% in Four Years. Democrats Think They Have Solutions

Source: AP News  |  By Tran Nguyen

While one in every five ratepayers can't pay their power bills, utilities like PG&E raked in record-breaking profits last year, according to The Utility Reform Network, a ratepayer advocacy group. The group supports Becker's measure and has sponsored a similar effort in the Assembly.

''There are no limits to how much the utilities can ask for in rate increases. There are no limits to how many times a year they can ask,'' said Mark Toney, the group's executive director. ''You can't blame them for asking for the sky.’' Under Becker's proposal, utilities would be required to use public financing to fund the first $15 billion spent on capital investment projects. The option would allow utilities to access funding with lower interest rates, and utilities also would be prohibited from collecting a return on that investment for shareholders. That would save customers $8.8 billion over the next 10 years, Becker said.