3D Electric powerlines over sunrise
This year, electricity bills have surged, but the actual cost of power has been much lower than PG&E’s predictions. The difference could lead to potential refunds for customers. Matt Freedman, with the Utility Reform Network says if the money was returned, it would effectively translate into a 8-percent rate decrease. PG&E sets higher rates based on their annual estimates, but this year’s costs were lower. As of August, PG&E collected over $830 million more than it needed to provide electricity, according to NBC Bay Area. The amount is unusually high compared to their records from the past five years.