PG&E's bankruptcy: Renewable energy costs at 800% of market rates

PG&E's bankruptcy court revealed that the company may dump its state-mandated renewable energy source contracts that cost up to 800 percent more than market rates. California mandated a zero carbon emissions future by passing the Global Warming Solutions Act of 2006.  With PG&E residential electric rates rising by 71 percent to subsidizing renewables, Northern Californians' electricity costs 19.30 cents per kilowatt-hour, or about double the 10.66 cents in Oregon and 9.46 cents in Washington. Pacific Gas & Electric filed for "Chapter 22" in January, as California's largest utility was forced for the second time in 15 years into a Chapter 11 bankruptcy due to the state's social justice legal and regulatory system. Under a 1999 Court of Appeals' opinion in Barham v. S. Cal. Edison Co. that established "inverse condemnation" for all weather-driven power line sparking risks caused by wildfires,...(Read Full Post)
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