Rep. Josh Harder (D – Tracy) has introduced a bill that will prevent PG&E from raising its interest rates multiple times a year.
Harder introduced the Stop Rate Acceleration Act to Congress on Monday in response to many interest rate hikes at the utility over the past few years.
Promoting news: Utility bills soared within PG&E's coverage, which spans the Central Valley, the Central Coast, the Bay Area and most of Northern California.
- KQED reported earlier this year that the average growth in PG&E bills has increased by about 67% since 2020, driven primarily by the increase in power speed.
- Now, PG&E bills pay an average of about $300 per month for residential taxpayers. Customers pay an average of $179 per month in 2020.
- PG&E raised its tax rates six times last year, and earlier this year the utility asked the California Utilities Commission to approve another rate hike to collect an additional $3.1 billion of the jobs considered last year.
The overall situation: The Stop Act will limit utilities to one rate hike every year.
- Even if previous requests have been rejected that year, only utilities are allowed to require one tax rate per year.
What he is saying: “Families in the Valley can’t afford this insanity,” Hard said. “The average bill now is $300 per month, and PG&E has been asking for more and more money. Now you have to be responsible for PG&E.