Analysis shows California investor owned gas utilities hiked pandemic rates even as their revenue rose
While the utilities are being fined and prosecuted for starting massive fires, they have raised rates. Instead of paying for the damage with stockholder money, they are rising rates—so the victims will pay themselves back. This is how government is protecting us–LOL
Food and Water Watch, 2/16/22
Sacramento, CA – According to new analysis by environmental watchdog Food & Water Watch, between 2019 and 2021 California investor-owned gas utilities like SoCalGas were charging customers 53.9 percent more for gas even as their companies saw revenue rise. SoCalGas, PG&E, and San Diego Gas and Electric Company all saw revenue increases in 2020 compared to 2019 (the year before the pandemic hit).
Between 2019 and 2020, SoCalGas saw revenue rise from $4.5 billion to $4.7 billion. When 2021 numbers are released, the company is expected to come close to $5 billion. While fourth quarter revenue has not been disclosed yet, both SoCalGas and San Diego are on track to meet or exceed their 2020 revenue in 2021.
SoCalGas is currently facing $10 million in state-sanctioned fines for using customer money to lobby against climate change solutions.
“SoCalGas cannot be trusted to protect its ratepayers or the communities threatened by the buildout of toxic gas infrastructure,” said Food & Water Watch’s California Director Alexandra Nagy. “While SoCalGas’ revenue rose, the company charged customers exponentially higher rates during the pandemic. This is a utility whose record includes the disastrous blowout at Aliso Canyon, myriad methane leaks, and improper use of ratepayer funds. Communities across California deserve equitable access to clean energy. They shouldn’t have to sacrifice their health or savings to pad SoCalGas’ bottom line.”
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