Matthew Lickona 11:49 p.m., Dec. 10
A Quick Review of Sempra Revenue, restricted to regulated income from local operations
It does appear that the California Public Utilities Commission (CPUC) will grant application of SDG&E to increase rates for conserving customers who consume less electricity (http://www.ucan.org/energy/electricity/sdges_new_plan_lower_rates_energy_hogs_higher_energy_savers).
On any sort of application for a rate increase, there needs to be testimony by the applicant (in this case, SDG&E) before the CPUC grants the increase.
Now, I wasn't there to hear it or not hear it, so I wonder if anything was said by SDG&E to CPUC about how much money SDG&E handed over to Sempra Energy.
Onell Soto reported that SDG&E handed over $107 million to Sempra Energy as profit from only three month's operations (http://www3.signonsandiego.com/news/2009/dec/10/sempra-bank-sell-joint-venture/).
Now remember, Sempra Energy is not SDG&E, it just own SDG&E. And $107 million is a whole lot of profit.
And now SDG&E says it needs a rate increase to cover the cost of electricity it delivers to customers.
Somebody is LOL all the way to the bank, every day.
Utility Consumers' Action Network (http://www.ucan.org/)
Division of Ratepayer Advocates (http://www.dra.ca.gov/dra/)