PG&E is raising eyebrows after asking for a rate increase on natural gas to fund a $26.6 million shareholder “reward” payment.
The utility claims it saved ratepayers money by keeping costs down and that shareholders should be rewarded. But as NBC Bay Area’s Jodi Hernandez reports, the proposal is not sitting well with customers.
PG&E notified customers of the requested rate hike, stating it saved consumers $170 million by purchasing the lowest gas prices possible from November 2022 to October 2023. While most of the savings go to consumers, the company believes shareholders deserve a portion…