Engstrom: PG&E utility profits are out of control — here’s how to fix it

Engstrom: PG&E utility profits are out of control — here’s how to fix it

This Thursday, the California Public Utilities Commission (CPUC) will vote on how much profit PG&E will be allowed to earn over the next three years — a decision that will directly affect whether Bay Area electricity bills continue climbing or finally offer relief to struggling customers. PG&E just posted record-breaking $2.47 billion in profits in 2024, even as one in five of its customers fall behind on their electricity bills. Electricity rat…