California Cuts PG&E’s and Edison’s Profits for Grid Investments

California regulators reduced the profit that utilities are allowed to make on infrastructure investments in an effort to rein in soaring electricity bills.Related: Massive Wildfire Liabilities Push Utilities to Use AI to Stop Blazes The move Thursday by the California Public Utilities Commission underscores its oft-conflicting policy goals: while the state is keen for power providers to fortify a grid that’s sparked catastrophic wildfires, doing so costs billions of dollars. Those expenses are typically pa ...