CA Current

The 2020 and quarterly earnings of the parent corporations of the four investor-owned utilities are a mixed bag. Annual net income for Edison International and PG&E Corp. drops while fourth quarter earnings rise. Sempra Energy’s reported income goes the opposite direction. While utility leaders sing the praises of increased investments and revenue to analysts, economists, […]

Edison International’s earnings for 2020 fell, but its fourth quarter net income was higher than in 2019. For Sempra Energy, the reverse was true. Edison International–Annual earnings for Southern California Edison’s parent company dropped to $700 million in 2020, or $1.98 per share. That compares to $1.3 billion in 2019, or $3.78 per share. Fourth […]

Sempra Energy’s latest earnings were not as bright as those of Pacific Gas & Electric Corp, nor as dismal as Edison International’s, both of which were reported last week. Sempra’s profits fell to $421 million, or $1.21 a share, compared to $909 million, or $2.93 a share, in last year’s third quarter. At the same […]

Sempra Energy, the parent company of both San Diego Gas & Electric and SoCal Gas, saw sharply increased earnings of $2.305 billion in the second quarter, or $7.64 per share. That compares to $435 million last year, or $1.29 per share. Much of the increase was attributed to the multi-billion dollar sale of its South […]

Two of California’s three investor-owned utilities reported second quarter earnings this week. Edison International’s earnings were not as rosy as the same quarter last year, Pacific Gas & Electric Corp’s were not as bad. Sempra reports earnings next week. Edison International, the parent company of Southern California Edison, reported a drop in second quarter earnings […]

California’s top attorney spearheaded a lawsuit against the U.S. Department of Energy for rule changes that impede the adoption of new energy efficiency standards. “The Trump Administration is irresponsibly rewriting a rule that helps consumers save money and decreases pollution to our environment,” Attorney General Xavier Becerra said April 14. He added that the pandemic […]

The California Public Utilities Commission and Independent System Operator are holding meetings this week. CAISO’s is holding the public portion of its board meeting remotely March 25, from 2:00 PM-5:00 PM. The agenda includes decisions on reliability must run contracts and its 2019-20 transmission plan. The CPUC business meeting is being held remotely March 26. […]

Pacific Gas & Electric is hit with a historic fine of $2.14 billion for igniting deadly wildfires in Northern California in 2017 and 2018. It comes a few days after PG&E reports significant losses in its 2019 earnings report. The private utilities in the southern half of the state fare far better. Southern California Edison, […]

The parent companies of the investor-owned utilities in Southern California reported rosy 2019 earnings, in contrast to Pacific Gas & Electric. The latter continued to suffer major losses while striving to reorganize and emerge from a Chapter 11 bankruptcy. Edison International is the parent company of Southern California Edison. Sempra Energy is the parent company […]

PG&E Corp. suffered a larger loss in net income last year than in the previous year. However, its 4th quarter loss for 2019 was about half the size of its 2018 fourth quarter hit. In its latest earnings report, the parent company reported a loss of $7.7 billion, at minus $14.50 a share, for 2019. […]

State energy regulators pay lip service to California’s mandate for the energy sector to be 100 percent clean and then approve the replacement of a 50-mile natural gas pipeline in San Diego. But, the Sempra utilities’ $677 million cost estimate for the project is to be examined. The House Energy & Commerce Committee takes aim […]

State energy regulators voted 4-0 to allow interested parties to litigate SoCal Gas’ and San Diego Gas’ & Electric’s proposed $677 million price tag for a 50-mile natural gas pipeline replacement project. The California Public Utilities Commission decision cast Feb 6 requires that the cost of the line’s replacement and testing be scrutinized in a […]

The California Public Utilities Commission voted 5-0 Thursday to initiate a rulemaking to update its natural gas reliability and long-term planning. The overall aim is to revamp its planning process to ensure gas systems are safe and reliable as California weans itself off of fossil fuels. “The gas system is going through profound changes,” Commissioner […]

California’s investor-owned utilities in the southern half of the state reported solid earnings, with those of San Diego Gas & Electric and SoCal Gas rising significantly. Southern California Edison’s margin dropped, however. Pacific Gas & Electric, with little notice, reported its third quarter net income Nov. 7. Edison International: the utility’s corporate parent saw its net […]

Updated Oct. 17. The California Independent System Operator upgraded its power grid operating technology last week, saying it now has the most advanced system in the industry. CAISO launched the Siemens Spectrum PowerTM 7 energy management system after five years of study, competitive bidding, design, and implementation. “CAISO now has the most sophisticated energy management […]

Updated Oct. 3. A ratepayer advocate group is taking Pacific Gas & Electric to task for its legal bills as the giant utility moves through its bankruptcy proceeding. The Utility Reform Network Oct. 3 blasted PG&E for spending $140 million on legal fees in the first few months of the  proceeding, paying attorneys $1,500 an […]

So. Cal Gas and SDG&E get whopping increases in their 2019-21 general rate cases. State energy regulators say the hefty revenue hikes are needed to fully fund the gas and electric companies’ safety programs. It is a long shot but bondholders try again to inject their plan for paying off PG&E’s massive debts at the […]

The California Public Utilities Commission Sept. 26 unanimously adopted a 13.78 percent increase in SoCal Gas’ 2019 test year revenue requirement over last year’s rates to reach nearly $2.8 billion. The hike was made as part of the Sempra utility’s 2019-21 general rate case. The five commissioners also signed off on a higher revenue requirement […]

California investor-owned utilities showed profits during the second quarter this year, as PG&E announced ahead of its quarterly earnings statement it hopes to deliver shareholder returns even while it’s in bankruptcy. California energy companies credited Gov. Gavin Newsom and state lawmakers for creating a new wildfire liability insurance fund for state utilities earlier this summer, […]

The California Public Utilities Commission June 27 launched an investigation into the safety cultures of SoCal Gas and its parent company following large and small gas pipeline explosions and leaks since 2015. “There are significant questions about SoCal Gas’ safety practices and priorities,” said Commissioner Liane Randolph. She pointed to a report released mid-May on […]