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CPUC Approves Phase 1 of PG&E General Rates Case
April 2011
The California Public Utilities Commission recently voted to approve Phase 1 of PG&E’s General Rate Case. The decision allows for a revenue increase of $1.9 billion for the three year term from 2011 to 2013. PG&E had originally requested a $4.2 billion hike at the beginning of the process, but that number was negotiated down to less than $2 billion over the three year period. The increase results in an additional $450 million in 2011, $630 million in 2012 and $815 million in 2013. The increased revenue will be used to fund electric and natural gas distribution operations and electric generation facilities. The settlement also includes a number of provisions, including a call for PG&E to pay for an independent audit of its SmartMeter-related costs, to be overseen by the CPUC.
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