APS and PG&E Profits Surge in 2023 Amid 25% Rate Hikes, Consumers Face Higher Bills
Arizona Public Service (APS) customers will face higher bills as regulators approved a rate hike for the state's largest electric utility company. Meanwhile, Pacific Gas and Electric (PG&E) reported a nearly 25% profit increase to over $2.2 billion for 2023, following substantial rate hikes. Both APS and PG&E are projecting rising profits amidst concerns over escalating electricity costs for consumers.
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Laurie RobertsAPS profits are going up. So is your electric bill https://t.co/iVHWJl64mq via @azcentral
Rep. Josh Harder
Let’s get this straight. PG&E has pushed to increase rates 3 times in the past few months. Families are paying more than ever before. But PG&E’s profits shot up by almost 25% last year. Does that make sense to anyone else? https://t.co/8ST4jovf84
- Laurie Roberts
APS reports profits are up and, thanks to last week's Corporation Commission rate hike, projects that profits will rise again in 2024. Meanwhile, we customers still don't know how much more we will pay for electricity starting next month. https://t.co/iVHWJl64mq via @azcentral
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