The California Public Utilities Commission released two proposed orders Wednesday in response to PG&E’s (NYSE:PCG) request for new investments in safety and reliability in its service area.
PG&E (PCG) requested a $15.4 billion revenue requirement for 2023, but the CPUC’s proposed decision and alternative decision The proposed decision reduced the amount by $1.6 billion and $2.1 billion, respectively.
The regulator said the proposed decisions, which are part of PG&E’s General Rate Case (PCG) covering operating and infrastructure costs for the 2023-2026 period, strike a balance between strengthening the electric grid for the future and affordability.
The CPUC is expected to vote on the proposals at the agency’s Nov. 2 meeting.
In addition, a three-judge panel of the 9th US Circuit Court of Appeals on Wednesday questioned a two-year stay in a shareholder lawsuit against PG&E (PCG) officers and directors, suggesting they could allow the case because of statements about the utility’s wildfire prevention measures. moving forward.