CPUC OKs Rate Hikes for SDG&E and SoCalGas

The California Public Utilities Commission authorized two affiliated energy utilities, San Diego Gas & Electric (SDG&E) and Southern California Gas (SoCalGas), to increase their rates and charges over the four-year period 2012 to 2015. The approved increases are retroactive to 2012, with SDG&E authorized to raise its rates by $123.4 million compared to its 2012 revenue requirement, and with SoCalGas allowed to collect an additional $84.8 million in rates over 2012 levels. In their original rate applications, SDG&E and SoCalGas had each asked for more than $239 million in rate relief. For 2013 to 2015, the utilities’ rates will be adjusted based on a formula that reflects the Consumer Price Index-Urban (CPI-U), as provided by the U.S. Bureau of Labor Statistics, plus an adder of three-fourths of a percent. The commission cited the need to enhance the integrity of the companies’ gas pipelines and “harden” electric facilities that are exposed to the elements.  For complete regulatory coverage, citations, and analysis, subscribe to Utility Regulatory News http://www.fortnightly.com/urn-subscribe