- NEWS Desk Global
SOARING PG&E POWER RATES IN 2024 APPROACH RATES
The significant increase in PG&E's rates this year is bringing them closer to the levels seen in Hawaii, which holds the unfortunate title of having the highest power rates in the United States. Hawaii's power prices have historically been the highest in the nation, primarily due to its geographic isolation as an island state. The need to import oil for power generation, often from distant locations like Libya and Argentina, contributes significantly to the cost. According to the U.S. Energy Information Administration, the cost of generating power accounts for about half of the average 41 cents per kilowatt-hour price paid by Hawaiian customers.
Mike Campbell, who monitors rates for the consumer advocacy division of the California Public Utilities Commission, notes that over the past five years, PG&E's rates in California have nearly doubled. With the recent rate increase in January, PG&E customers are now paying an average of 39.6 cents per kilowatt-hour. This is a significant jump from the 21 cents per kilowatt-hour rate recorded back in 2019.