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TURN Faces Financial Crimp Due to CPUC Inaction

11 Jul

The state’s chief independent ratepayer advocacy group is having trouble meeting payroll. The reason, according to Mark Toney, executive director of The Utility Reform Network, is that the California Public Utilities Commission has not been abiding by its 75-day deadline for acting on intervenor compensation claims. In a rare plea to the CPUC at its […]

Shorts

9 Jul

Updated July 11. The Senate Energy & Natural Resources committee held a celebratory hearing July 11 on growing U.S. exports of liquefied natural gas. “We are now leading the world in natural gas production, and hopefully soon, we will also lead in exports,” said panel chair Sen. Lisa Murkowski (D-AK. “More U.S. LNG export facilities […]

The Buzz

3 Jul

Expected legislation incorporating the Governor’s wish list for a catastrophic wildfire recovery fund to bail out private utilities facing big liabilities is to get its first airing July 5. The Senate Energy, Utilities & Communications Committee approves bills shifting the cost of supply shortages to energy providers that fall short  and increasing the efficiency of […]

Bill Proposes Utility Wildfire Recovery Fund

3 Jul

New amendments to AB 1054 this week would create a multi-billion dollar wildfire liability fund backed principally by ratepayer money, as pushed by the governor. The measure by Assembly Utilities & Energy Committee Chair Chris Holden (D-Pasadena) proposes a $10.5 billion revolving liquidity fund to cover private utility liabilities stemming from fires their equipment may […]

Undercurrents: Diablo Closure’s Money Impact Limited

2 Jul

The financial impact to the Central California Coast from the closure of Pacific Gas & Electric’s Diablo Canyon nuclear power plant is not expected to be significant. The impact of the 2,200 MW Diablo plant closure slated for 2024-25 is projected to result in an annual loss of about $800 million to San Luis Obispo […]

PG&E Creditors Propose $30B Reorganization Plan

26 Jun

A group of Pacific Gas & Electric bondholders and unsecured creditors are pushing a $30 billion financial health plan for the bankrupt utility that would be backed principally by new equity. The plan filed by the Ad Hoc Committee of Unsecured Noteholders June 25 asked U.S. Bankruptcy Court Judge Dennis Montali to end ahead of […]

Ratepayers Face Billions of Wildfire Costs

6 Jun

Under pressure to act on the mounting financial impacts of wildfires including those sparked by electric utilities, lawmakers face fundamental choices as the end of the legislative session begins to come into view. Almost all of them involve handing ratepayers much of the tab for untold billions of dollars of utility wildfire expenses. The choices […]

All-Electric Buildings Raise Rates

6 Jun

As California pursues a strategy to phase out the use of natural gas for heating space and water, cooking and other uses it will have to develop a transition plan to prevent remaining gas customers from rate shock. That’s according to a new study conducted for the California Energy Commission. “This has big implications for […]

Shorts

29 May

The California Public Utilities Commission May 30 approved lifting the direct access cap in investor-owned utility territories by 4,000 GWh. There is a long list of large energy users seeking to receive power from direct access providers since it was capped after the 2000-01 energy crisis.  CPUC President Mike Picker said the additional direct access […]

CPUC Rejiggers Utility Cost Recovery Te$t

28 May

A California Public Utilities Commission decision proposes a new cost recovery reasonableness yardstick to determine the extent of ratepayer-funded cushioning of private utilities facing huge wildfire liabilities to keep them financially healthy and operating safely. Or in the alternative, the financial stress test is to evaluate the impact of requiring utility customers to pay for […]

The Buzz

16 May

It is better late than never for Southern California Edison, which finally gets its 2018-2020 rate case approved. State energy regulators okay a revenue requirement for 2018 of nearly $5.2 billion. Over the three-year period, Edison will reap a 4 percent increase, not counting recovery of its wildfire safety costs. Utility regulators this week also […]

CPUC Okays 4% Boost in SCE’s 2018-20 Rate Case

16 May

The California Public Utilities Commission unanimously approved increasing Southern California Edison’s 2018 revenue requirement from the commission’s initially proposed $5.102 billion to $5.117 billion. As part of the triennial general rate case belatedly approved by the commission May 16, Edison’s revenue requirement for 2018 is below that of 2017. But, the CPUC gave Edison 92 […]

Undercurrents: Lawmakers Examine CPUC Safety Office

14 May

Updated May 15 Whether the California Public Utilities Commission’s fairly young Office of Safety Advocates is increasing safety at the CPUC and utilities was the focus of a May 14 hearing by the Senate Energy, Utilities & Communications Subcommittee on Gas, Electric & Transportation Safety. A key challenge remains insufficient resources for the safety office. […]

Fog City Explores Take Over of PG&E Wires

14 May

If San Francisco replaced bankrupt Pacific Gas & Electric’s power delivery services and assets with its public utility, the city could reap considerable benefits. That is according to an explorative study by the San Francisco Public Utilities Commission staff released May 13. “While any sort of acquisition of PG&E property would be a lengthy process, […]

Lawmakers Confront Looming Utility Liability

9 May

State legislators face tough decisions in the coming months as they grapple with the state’s energy utilities’ growing wildfire costs. At issue is more than utility liability for the recent fires. The bigger problem, according to state officials and experts, is the cost of future fires. It is estimated that a risk liability pool funded […]

The Buzz

2 May

PG&E’s first quarter earnings this year are far from rosy, but not as grim as expected. Earnings take an expected hit from wildfire, bankruptcy and safety expenses, which PG&E hopes to more than recoup from energy regulators and ultimately ratepayers. Southern California Edison’s parent earnings rise but that doesn’t stop its CEO from whining that […]

JUICE: Muddy Waters & Rates

30 Apr

While passing through a corner of Nevada along Highway 395 during a drive to the Eastern side of the Sierra I was struck by the differences in the price of gasoline in the Golden and Silver states. Filling up in Nevada April 19, I paid $3.30 a gallon, saving well over a dollar per gallon. […]

PG&E Wants a 50%-plus Hike on its ROE

24 Apr

Pacific Gas & Electric is seeking an unprecedented increase in its rate of return that would raise its revenue requirement by $1.2 billion next year. In a filing to the California Public Utilities Commission, PG&E asked for a 56 percent boost in its return on equity, from the current 10. 25 percent rate to 16 […]

Edison Seeks Higher Rates Due to Wildfire Risk

23 Apr

Southern California Edison asked the California Public Utilities Commission April 22 to grant it a rate boost that would increase the average residential power bill by $12.20 cents a month to help cover wildfire risk. The move comes after the company posted losses at the end of last year in the face of wildfire liability […]

Newsom Calls for Wildfire Liability Reform

12 Apr

Gov. Gavin Newsom April 12 called on lawmakers to pass a legislative reform package to deal with the growing threat of wildfires, calling measures adopted to date “inadequate.” “We all have a burden and responsibility to meet the costs,” said Newsom. “We’re all in this together.” In a long and at times rambling press conference, […]