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California utilities regulators are bringing down “return on equity” payments to power company shareholders. It’s the lowest profit margin in 20 years for PG&E and Southern California Edison, but will be hard to notice in your payments.
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PG&E and Southern California Edison routinely blow their deadlines to hook up new solar panels, an advocacy group says. But after years of complaints they have not been punished.
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Justices told a lower court to revisit their decision to uphold cuts of 75 percent to payments for solar panel owners.
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Public utilities can bill directly for hundreds of millions of dollars in shareholder returns despite being in what critics call a lower-risk business.