It’s not yet clear how much of the cost will be shouldered by ratepayers.
Pacific Gas & Electric’s cost for burying thousands of miles of power lines in wildfire-prone areas appears to be rising, with the latest estimates ballooning the project’s projected price tag by billions of dollars, according to the utility’s earnings call Thursday.
The utility plans to submit a detailed wildfire mitigation plan to the California Public Utilities Commission by Feb. 25. PG&E’s stock dropped 7.4% on Thursday.for PG&E customers, approved Thursday by the state’s Public Utilities Commission. It was not clear how the plan to bury power lines underground might affect ratepayers.
Multiple ratepayer and environmental groups, however, lambasted the plan for its rising costs and the seemingly-plodding pace required of such an extensive project. “The focus needs to be on doing things as quickly as possible and as safely as possible,” Maurath Sommer said. “Undergrounding is just not realistic.”
The utility’s goal is to bury 175 miles this year and significantly increase those totals annually for the next five years, until it’s burying 1,200 miles of power lines in 2026.
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