SAN FRANCISCO — PG&E shattered profit records for the second year in a row.
The utility announced Thursday it made $2.47 billion in profits in 2024.
Over that same time, California state regulators agreed to six separate rate increases.
East Bay State Senator Aisha Wahab is proposing a new plan to limit utility companies to only one rate increase a year.
It would also cap increases so they don’t outpace inflation.
PG&E says it is taking action to stabilize bills.
