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I mean, technically they're right. There's no connection between a rate increase on Jan 1 2024 and reported earnings for 2023. Bad title. But it will be curi
by ethbr1 3y ago
I mean, technically they're right.
There's no connection between a rate increase on Jan 1 2024 and reported earnings for 2023.
Bad title.
But it will be curious to see how 2024 goes financially for them.
- bushbaba 3y agoRate increase means more profit. As PGE is granted a preset profit margin of revenues.
- ethbr1 3y agoFor the current year. Not last year.
- darth_avocado 3y agoPG&E has had rate increases in 2022 and 2023. There is no way they can claim no relationship between rate increases and profitability. If anything, 2023 profits should then mean 2024 rate increases which were made on the claims of company losing money were unnecessary.
- oefrha 3y agoSure, > But the notion that anything coming out of our earnings report is in direct result of the rate increase, is completely false. emphasis on the rate increase. But of course there was a rate hike in 2023 as well: The average PG&E bill may soon be going up a shocking $35 a month - Feb 3, 2023 https://www.sfgate.com/news/article/pge-utility-bill-increases-17747096.php https://www.sfgate.com/news/article/pge-utility-bill-increas...