A solid 25% of my electricity bill goes to wildfire costs and that's up from 13% in 2023. Keep in mind that this is 'revenue requirement' money which means the cost also includes "and includes an opportunity for the utility to earn a fair return on its investments." That fair return was apparently helpful in buying Xavier Becerra the governorship
My question is why aren't these costs amortized over 20, 30, 50 years since the benefits of such measures presumably will endure over that period of time? Or put another way, why should rate payers in 2023-2033 bear the entire cost?
Also insurance situation in California is badly . The top job, Insurance Commissioner is a port of call for legislators who have termed out. And bad ones at that. They skew the insurance rates, not accurately reflecting the risks nor costs. It's a veritable giveaway with a typical CA politician thought that these costly benefits will come for free. Nope. Homeowner insurance rates are rising through the roof, if you are lucky and not having your policy cancelled.
Keeping watch over this mess for the past 8 years? This guy:
Ricardo Lara - Straight from college to being a staffer in the statehouse. Then elected to State Assembly (2010–2012) and State Senate (2012–2018) before becoming Insurance Commissioner.
Wikipedia: "After the election, Lara faced significant criticism in which he admitted to receiving donations from the insurance industry he regulates despite pledging not to do so during his campaign.[23][24][25][26][27]
Since assuming office in 2019, Lara has missed nearly all key Senate Insurance Committee hearings, few of which were held each year, often due to international and cross-country travel. Public records revealed at least 46 such trips, including a minimum of 11 taxpayer-funded international excursions to destinations like Bogotá, Paris, Bermuda, Toronto, and the United Kingdom. In many cases, the Department of Insurance has been unable to provide clear documentation of the business purpose of these trips."
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