How many times are we going to allow Pacific Gas & Electric to mess with the state and their customers? I have a SmartMeter, and as I looked at my last bill and year-to-year usage, my electric consumption was up about 25%. Funny thing, I did not use my A/C in the past 30 days, nor am I running anything different than last year.
Years ago, our own California Public Utilities Commission guaranteed PG&E an 11.45% rate for nine to 10 years, and now PG&E wants another rate hike effective Jan. 1, 2010, for a clean energy project on top of a proposed hike earlier this year.
And who is making money? The stockholders, with a nice fat 35.33% return in the past five years. Look it up at finance.aol.com/quotes/pgande-corp-holding-co/pcg/nys/historical-prices?tf=y%2C10&gran=d/.
The CEO of PG&E made $8.7 million in compensation last year primarily since the stock held up better than most in 2008, but if you (PG&E) are guaranteed a high rate of return, why would the stock not fare well?
As a resident of Fresno, I must ask why PG&E is my only choice of a provider for energy. Seems like a monopoly to me. Gee, I hope my power does not go out. Maybe I should go solar!
Dave Lauger
Fresno
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