Not only are electricity rates in California among the highest in the nation, they’re also growing faster than in other states, according to a Jan. 7 report from the state’s Legislative Analyst’s Office (LAO).
Major factors driving California’s high and growing residential electricity rates include wildfire-related costs and “the state’s ambitious greenhouse gas (GHG) reduction programs and policies,” said the nonpartisan government agency.
About three-quarters of statewide electricity services in California are provided by three large investor-owned utilities (IOUs): namely Pacific Gas and Electric (PG&E), Southern California Edison (SCE), and San Diego Gas and Electric (SDG&E). Their rate increases significantly drive the state’s high prices….