Annually the company, through the rates hike, can increase its spending to $2.7 billion on repairs and upgrades to a few of its power plants and also to the power grid, when compared to its present spending of $2.2 billion per year.
The company informed that in order to allow new solar and wind power to be shipped across its system, the electric grid upgrades are required.
David Eisenhauer, spokesman of PG&E said in a statement that: “The critical driver of our request…is the need to invest in our energy infrastructure to meet our customers’ expectations for service.”
The company, apart from the rate hike, requested the regulators for the approval of upgrading the grid to limit blackouts.
The company stated that the proposal would result in $16.50 average monthly rise in bills of PG&E customers who use 850 kilowatt-hours a month, and an increase of $3.30 a month for customers who use 40 therms a month of natural gas.
