Southern California Edison wants departing customers to hand over $125 million

by Sammy Roth, LA Times

Southern California Edison is short nearly $1 billion in its power budget — and it’s hoping to charge a big chunk of that money to customers leaving for another energy provider.

Edison estimates it will spend $972 million more than expected on electricity this year, partly because it didn’t have access to enough power during a summer heat wave and was forced to pay sky-high prices on the energy market. The investor-owned utility is now asking state officials for permission to raise next year’s electricity rates to recoup those costs, as allowed by law.

But there’s an unusual twist in Edison’s request. The utility wants to charge approximately $125 million of the shortfall to more than 1 million homes and businesses that will leave Edison over the next few months to join Clean Power Alliance, a government-run energy provider that intends to compete with the massive power company.

Read more: https://www.latimes.com/business/la-fi-southern-california-edison-125-million-20181213-story.html?for-guid=e7359d9a-2fcd-e611-88f6-90b11c3bc1f2&utm_source=usatoday-Climate%20Point&utm_medium=email&utm_campaign=narrative&utm_term=article_body

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.