Wildfires & Power Bills — California Consumers Suffer

The California Earthquake Authority has issued a report on what wildfire damages are costing consumers. Their power bills now average of $41 more than a few years back. This is partly because of a 19% surcharge added to the average bill of Pacific Gas & Electric and other electric utility operators.

Higher homeowners insurance rates are also contributing to the problem. And you can put lower home values, higher local taxes and a destabilized mortgage market to the cost list.

Californians already pay some of the highest power rates in the nation. The cost of electricity rose 37% between 2020 and 2025. Part of those costs are surcharges regulators are permitted to add to a power bill.

Southern California Edison rates rose 17% and San Diego’s Gas & Electric saw a hike of 14% a month during the same time period.

Source link: Insurance Journal — https://bit.ly/4cAm4wM