San Diego utility can’t pass 2007 fire costs onto customers
Associated Press
SAN FRANCISCO (AP) — The California Public Utilities Commission on Thursday rejected a request from a San Diego utility to force customers to shoulder $379 million in costs from three deadly blazes ignited by power lines in 2007.
Regulators voted unanimously to uphold an August decision by two judges, who said San Diego Gas & Electric did not act reasonably in managing its equipment and could not pass along costs to ratepayers. State law allows utilities to recover costs from customers only if they act in a "prudent" manner.
The California Department of Forestry and Fire Protection and utility commission investigators concluded that three blazes in San Diego County in October 2007 were caused by San Diego Gas & Electric's electrified wires.
"There is no dispute that each of the fires were caused by SDG&E facilities and in each instance we find that SDG&E did not meet its burden to show that it acted as a prudent manager," Commissioner Laine Randolph said.
The utility faced 2,500 lawsuits from people with fire damage and settled most of them for $2.4 billion. The $379 million it wanted to charge ratepayers remained after court proceedings, settlements and insurance payouts.
The blazes destroyed more than 1,300 homes, killed two people and injured 40 firefighters.
Retirement Planning in US in 2017: Honest Dollar Most Popular Retirement Plan Option
Lincoln National Corp. Files SEC Form 8-K, Current Report: (Nov. 16, 2017)
Advisor News
- Majority of Americans concerned recent market highs are unsustainable
- GLP-1 users choose between medication and retirement saving
- Gen X and millennials seek new retirement model
- Are families ready for the costs of aging at home?
- When a client moves, their insurance plan needs to move, too
More Advisor NewsAnnuity News
- A client remarried: Does their annuity still fit?
- Gen X and millennials seek new retirement model
- Global Atlantic names Dan Farrelly head of IMO and IBD channels
- A rising retirement challenge: The license to spend
- What lower interest rates mean to annuity payouts
More Annuity NewsHealth/Employee Benefits News
Life Insurance News