Wednesday, August 13, 2008

SDG&E Rates Going Up

A 9,000 page application and almost two years later, SDG&E has gotten the go ahead to raise rates by 7%.

Most of that, 4.3% is part of a general rate case approved by the PUC, and the balance, which was approved by FERC, seeks to offset increased transmisstion costs.

According to the Union Tribune:

"The settlement, which was approved by the commission two weeks ago, enables SDG&E to increase its gas and electric rates to generate an additional $136.3 million in 2008. The new rates are retroactive to Jan. 1. SDG&E has been allowed to collect an approximate increase for nearly eight months and hold the proceeds in a separate account pending the PUC decision. The settlement also provides for an annual increase that allows SDG&E to make successive annual base-rate hikes of $41 million in 2009; an additional $44 million in 2010; and $44 million more in 2011.

That means the utility will make adjustments to its base rates for residential, commercial and industrial customers every year."

SDG&E raising its rates Sept. 1 [San Diego Union Tribune]