What Will Happen Now that PG&E Is Declaring Bankruptcy?
PG&E is California’s largest electric utility company. They serve over 16 million Californians – and there’s been a lot of negative news these days. What exactly is going on?
Recently, PG&E was found liable for over $30 billion in liability damages for negligence and responsibility for devastating wildfires. Most recently, on January 14, 2019 they announced plans to file for bankruptcy protection on January 29. The early announcement is a legal requirement – they must publicly declare intentions to file bankruptcy at least 15 days in advance, which they have now done.
According to statements, homeowners will continue to receive electric service from PG&E. However, with uncertainty looming, customers can’t be sure of the reliability of service – or of how much they will be paying each month.
In 2001, PG&E declared bankruptcy amid a grand-scale energy crisis and stuck their customers with the bill. In those days, most folks saw between a $1300 to $1600 annual increase in their electric bill.
Are you still feeling those high rates from long ago?
Call Solar Spectrum – we may be able to help you get those monthly bills much, much lower.
Will Rates Rise Again?
It’s incredibly likely that rates will rise again, just like last time, and likely that the amount could be a similar increase (if not even bigger).
The results of being found liable for huge fires in consecutive years puts too great a financial strain on the utility, and whatever costs PG&E can pass on to the consumer, they will. It’s not a surprise, that is a pretty standard business model. Still, that it’s expected doesn’t make it any easier.
How to Avoid Paying More Each Month for Electricity
The easiest way to get out of PG&E’s rising costs is to switch to solar power. Solar Spectrum has been talking with homeowners worried about what’s going on with their electricity. Don’t worry, we are here to help!
Installing solar panels can get you:
- Guaranteed Rates. We offer complete safety from utility rate increases from utility companies for the next 20 years!
- Protection from Blackouts. Planned or unplanned, utlility blackouts can literally leave families in the dark. This can become quite costly or even life-threatening. But blackouts from utility companies have very little impact on homes powered by solar.
- Free Electricity. Right now, Solar Spectrum offers 12 months of free solar electricity to qualified homeowners. (This is a limited time promotion – if PG&E’s latest bankruptcy announcement wasn’t incentive enough, please take advantage of this promotion before it goes away!)
- Transparency and Support. Our team makes going solar as easy as possible, from handling the paperwork to maintaining the system and taking care of our customers for life.
Or reach out to us via the web here. Quotes are always free, and our experts are here to answer any questions you have.
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