P. Jeannie discussed on KCBS 24 Hour News


Desk is your news watch continues P. Jeannie ratepayers getting a bit of a reprieve on their bills more about IT KCBS anchors Jeff belum Patty rising spoke to KCBS and chronicle insider filmed here so let's talk about P. you see action it involves all of our bills by P. Jeannie they made a ruling today concerning P. Jeannie and and how much it could take its rates correct that's right we're we're talking about is P. Jeannie southern California Edison southern California gas and San Diego gas electric which has been hit by cars as well they went to the P. you see and they asked for an increase in the profit margin that they could charge you have to understand something of these utilities are guaranteed a ten point two five percent ten percent return or profit in order in return the rates are set by the state but the guaranteed a ten percent profit they wanted to raise third P. Jeannie wanted to raise their profit to sixteen percent K. that would average about you know seven or eight Bucks to the average residential customer they say that what they needed to do was increase their profit margin in order to attract more investors who are willing to bet on the company in light of the all the losses they've incurred over the wild fires and all the money they're going to need to pay those losses off and also strengthen the system so that they don't rear Kirk but the P. you see said no not at this time now they can still go back and get rate raises for let's say improving the lines are doing safety work or other things that are directly related to delivering electricity but not on the profit side so for right now they said no and that's probably a good decision politically because you and I know if they got handed the sixteen percent of them profit margin after everything that's happened the state would go ballistic at least northern California would and everything else to try to pull up would just fall apart the optics not good there let's switch gears real quick P. genies CEO bill Johnson on Capitol Hill today yeah he was talking about being asked about you know the state of P. Jeannie and other topics and one of the things that came up was that you were reporting this earlier you said that okay we're rather than you know these blackouts going on for another ten years he said okay you can get it down to like five years they might still continue after that position the big stuff they think they can get it down to five years you know I think that we're going to continue to see these blackouts not to it to the extent I don't think we're gonna see him again to the extent that we found this year because a lot of that was over compensating but in the future they're going to try to be more surgical the San Diego gas electric has been using those sort of limited cut offs and they've been going for twelve years now so I think this is the you know limited cut off or something we're going to be seeing for quite some time in California but probably more in the more remote regions rather than right here in the heart of the bay area he's using chronicle insider filled with cheerless San Francisco woman has hired a plane to fly a banner with her dogs information over this city in hopes of finding her stolen dog Emily to learn is offering a seven thousand dollar reward to recover her blue eyed miniature Australian shepherd who was stolen from outside a Berlitz grocery store on Saturday she says she wants to reach as many people as possible to help keep an eye out for the twenty pound dog tell financer search chiller relaunch a go fund me effort which is raised more than a thousand dollars since Tuesday the plane is set to circle over San Francisco and Oakland for two hours.

Coming up next