PG&E Projects Stable Energy Rates for 2025 Following Record Increases

California's largest utility promises incremental rate reductions after a year of unprecedented hikes, though affordability concerns persist.

PG&E customers experienced a record 56% rise in electricity rates over the last three years, with 2024 seeing six separate rate increases.
The utility estimates average residential bills for January 2025 will be only slightly higher than January 2024, though colder weather could drive costs up further.
State regulators approved new rate hikes to fund wildfire mitigation, infrastructure upgrades, and the continued operation of Diablo Canyon nuclear plant.
Approximately 20% of California households are behind on energy bills, prompting calls for expanded affordability programs and stricter regulatory oversight.
PG&E executives cite cost-cutting measures, a federal loan, and operational savings as reasons for expected rate stabilization in the coming years.