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The California Public Utilities Commission, on a vote of 4-1, approved a rate hike last month that will allow Southern California Edison to collect an extra $2.1 billion in gross revenue over the next three years. The PUC granted the utility $106 million for incentive pay for rank-and-file employees, and $17 million to study the feasibility of re-licensing San Onofre Nuclear Generating Station, whose licenses expires in 2022.
The heads of Asian, Hispanic and black business, church groups and Edison engineers, linemen and trainees stressed the need for investment and jobs at a hearing on the rate increase. It is estimated that the 2 percent increase will result in a $3 billion annual infrastructure spending to the Southern California economy, which includes the creation of as many as 38,000 new jobs. The hike will raise the average residential bill $2 or so, to $85 a month. (Turn, 3/12/09)
The heads of Asian, Hispanic and black business, church groups and Edison engineers, linemen and trainees stressed the need for investment and jobs at a hearing on the rate increase. It is estimated that the 2 percent increase will result in a $3 billion annual infrastructure spending to the Southern California economy, which includes the creation of as many as 38,000 new jobs. The hike will raise the average residential bill $2 or so, to $85 a month. (Turn, 3/12/09)
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