Pacific Gas and Electric Co. is warning about 25,000 prospective customers that they could be forced to wait as long as six months beyond their scheduled connection dates to get power, as the utility postpones $2 billion in planned spending amid uncertainty over wildfire liability and financing costs.
In a letter sent to potential customers the utility ackowledges the delays could pose a hardship to customers who hoped to be hooked up next year. Data centers as well as larger residential developments and clean-energy projects that depend on new electrical service could also suffer. But PG&E says postponing the spending will help avoid unnecessary long-term rate increases and keep electricity costs as low as possible for its existing customers.
The utility says it is not delaying safety projects but is reassessing its business model to account for the financing uncertainties due to wildfire risk…