Congressman Josh Harder is trying to pass a federal law that would prevent utilities such as PG&E from raising rates more than one time in a given year.

The Tracy Democrat Monday introduced the Stop the Rate Hikes Act that, if passed, would do just that.

PG&E has already raised rates twice this year.

Both were approved by the California Public Utilities Commission (CPUC) in 2023 to go into effect this year.

The CPUC is currently considering PG&E’s request for a third price increase. 

“These constant rate hikes are out of control. The last thing our families need is PG&E raising prices again,” Harder said. “Our families can barely afford utility costs as it is, and yet PG&E keeps increasing rates every few months. PG&E needs to be held accountable and my new bill says enough is enough: you can’t keep raising prices on families.”

PG&E started the year with a $13.8 billion rate hike — its largest  ever — that went into effect Jan. 1.

Then they asked for another $2 billion that they wanted the CPUC to allow them to start collecting March 1 before the request completed required regulatory review

Then in February the CPUC cued up yet another rate increase for PG&E.

That one will cost the average PG&E ratepayer roughly $5 a month.

Don’t confuse it with the average rate hike of $35 approved in November by the CPUC that went into effect Jan. 1.

That rate hike will be reflected in PG&E customer bills received in February.

And don’t get it mixed up with a rate hike request PG&E made on Dec. 1 to increase the average customer’s bill by $14 a month. That’s the one they wanted to start collecting March 1.

PG&E in 2023 reported net profits of $2.4 billion.

The for-profit utility has doubled rates in the last 10 years.

The CPUC allows PG&E and other for-profit utilities to have a return — basically a profit — that accounts for at least nearly 11 percent of every dollar they collect from customers for transmission and distribution as well as the cost of electricity and gas that is consumed.

That means 11 percent of the $13.8 billion rate hike that went in to effect Jan. 1  and 11 percent of the rate hike proposed for March 1 will essentially provide PG&E with a more robust profit by adding $1.6 billion to their bottom line.

Harder has heard from countless families across San Joaquin County who are seeing skyrocketing PG&E bills.

Last year, Harder introduced a bill to prevent utility companies from price-gouging families during emergencies. In 2022, he introduced legislation to stop PG&E from giving out massive bonuses to its executives and to ensure that money is invested in its own infrastructure instead.

To contact Denis Wyatt, email dwyatt@mantecabulletin.com