California residents will see their PG&E bills climb higher as the company confirms another rate hike, following one that already took effect at the start of the year. The California Public Utilities Commission (CPUC) approved the increase on Thursday, which PG&E says will add approximately $3.65 to the average customer's electric bill, starting in April.

Critics are up in arms, decrying what they view as a continuous financial strain on consumers. Richard Becker, of the Coalition to Stop the PG&E Rate Hikes, called the move "criminal profiteering," according to an interview with ABC7 News. The outcry from consumer groups and individuals at the hearing, some of whom chanted "Stop the Rate Hikes!" grew louder, especially in the absence of CPUC commissioners' public discussion before the vote. Mark Toney, executive director of The Utility Reform Network (TURN), labeled the lack of explanation as "disrespectful to customers," a sentiment he expressed in a statement obtained by ABC7 News.

This latest financial uptick follows a 13 percent increase that came into effect in January, which raised the average bill by about $34 a month to cover the expenses of undergrounding power lines in high fire risk areas. All told, PG&E anticipates that rate increases in 2024 will total roughly $50 more per average customer, as reported by NBC Bay Area.

PG&E's statement underscores its intent to recoup funds spent on wildfire mitigation and energy system improvements, arguing that interim rate relief is a means to lower long-term costs for customers and safeguard the utility's ability to secure finance at competitive rates. "The Wildfire Gas and Safety Cost Interim Rate Relief decision authorizes a temporary rate change to start recouping a portion of the money that was spent for wildfire mitigation and delivering key safety, compliance, and modernization investments for our energy system," Tamar Sarkissian, a PG&E spokesperson said in a statement released on Thursday, as per ABC7 News. However, with last year's profit surge reaching more than $2.2 billion, a near 25% jump, consumer advocates like Toney have questioned the rationale behind the hike, expressing disdain over the company's profit margins in light of the rate increase.

Despite PG&E's claims of reinvesting over $2 billion in 2023's earnings and distributing $21 million directly to shareholders in dividends, the Coalition to Stop the PG&E Rate Hikes is now pushing for a reversal. They argue that continuous rate increases lead to further socioeconomic distress, including evictions and suffering for the people.