Report: PG&E rates could skyrocket if wildfires caused by utility continue

PG&E rates could be going up drastically. One estimate, says we could be forced to pay 50 percent more and it's all because of California's devastating wildfires.

Steven Weissman is an emeritus lecturer at UC Berkeley's Goldman School of Public Policy. He revealed this startling impact of the massive infernos in a memo sent Wednesday to the Newsom Administration. It was at the request of Newsom's office, according to the San Francisco Chronicle.

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Weissman says the sharp spike in rates could hold the state back from getting more electric cars on the road and phasing out natural gas use in buildings. This would dramatically impact California's push to reduce its greenhouse gases. Down the line, Weissman believes these rates could force businesses to leave the state. He mentions Silicon Valley and their energy needs. The Chronicle also included a response from PG&E where a spokesperson said the company is committed to supporting customers in service areas impacted by recent disasters.

The governor's office is expected to roll out a plan Friday for dealing with what increased wildfire risk and climate change the office is calling it "the new normal."

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