By Ventura Breeze Staff –
Southern California Edison customers may soon see higher electricity rates to help cover the utility’s $1.6 billion in payments to victims of the 2017 Thomas Fire, which was caused by its equipment. The fire destroyed thousands of homes across Ventura and Santa Barbara counties and led to catastrophic debris flows in Montecito, killing 23 people.
On Thursday, January 30, the California Public Utilities Commission voted 4-0 in favor of allowing Edison to raise rates, despite widespread objections from customers and lawmakers. According to the Los Angeles Times, customers will contribute more than $1.6 billion of the $2.7 billion Edison paid to over 5,000 fire victims, with the remainder covered by the company’s shareholders.
In addition to this increase, a second-rate hike is still under review. Edison has also requested approval to pass on $5.4 billion in costs related to the 2018 Woolsey Fire, which was also caused by its equipment. Combined, the two rate hikes could result in a more than 2% increase in rates.
Edison has promised to minimize the impact on customers by spreading the payments over 30 years, which would result in an estimated increase of about $1 on monthly bills for most customers.
