"California's Soaring Electricity Prices and Consumer Protection Concerns Highlighted by Auditor"
TL;DR
California's electricity prices have surged in the past three years, increasing nearly three times faster than the Consumer Price Index. Energy Toolbase's analysis found that the state's electricity inflation averaged 15.3% from 2020 to 2023, compared to a modest 1.6% inflation over the previous six years. Retail electricity bills from California's major utilities rose by at least 47% over a nine-year period, with San Diego Gas & Electric experiencing a spike of 104%. The study identified fuel and energy costs, demand shifts, regulatory changes, and infrastructure maintenance as major drivers of the price increases.
Topics:businessenergy#california#consumer-price-index#electricity-pricing#energy#energy-toolbase#inflation
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