The State : PG&E; Rate Increase OKd
Pacific Gas & Electric can raise its electric rates another $147 million to recover some of the operating costs of its controversial Diablo Canyon nuclear power plant. Earlier, PG&E; was allowed to boost rates by $54 million. The increases, authorized by the California Public Utilities Commission, will boost PG&E;’s revenues 3%. They are interim measures while the PUC decides how much of Diablo’s $5.5-billion construction cost was “reasonable” and can thus be charged to customers. The PUC said the latest rate increase action “does not prejudge in any way” the decision, which is due in late 1989.
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