The California Public Utilities Commission has rejected requests from the state’s investor-owned utilities to raise their profit margins to help pay for wildfire damages and to attract new investors.
At a hearing Thursday, the PUC unanimously rejected Pacific Gas & Electric Co.’s request to increase its “return on equity” from 10.25% to 12%, according to reporting by the San Francisco Chronicle.
The PUC also turned down similar requests by Southern California Edison and San Diego Gas & Electric…
