Market
Which California utility will announce highest rate increase in 2025?
2
Resolution / Starting Odds
SoCalGas • 33%
SDG&E • 33%
PG&E • 33%
Other • 1%
Official announcements from SoCalGas, SDG&E, and PG&E
Story
California Approves 9.3% SoCalGas, 7.5% SDG&E Rate Hikes Amid 51% Faster Price Increases
Dec 20, 2024, 01:57 AM
California utility prices are rising at a rate 51% faster than the national average, according to a recent state report. The California Public Utilities Commission (CPUC) has approved several rate increases for utilities, including a 9.3% revenue increase for SoCalGas and a 7.5% increase for San Diego Gas & Electric (SDG&E) for 2024. Additionally, Pacific Gas and Electric Company (PG&E) will see further rate hikes after regulators approved two more requests, bringing the total to six approved hikes this year. The CPUC also sanctioned $723 million in costs aimed at extending the life of the Diablo Canyon nuclear plant, which is expected to contribute to rising power bills for PG&E customers.
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