Dec 20, 2012 3:22 PM by The Associated Press
SAN FRANCISCO (AP) - Pacific Gas and Electric Co. rates are set to increase by $299 million to help pay for pipeline inspection and upgrade costs in the wake of the fatal 2010 gas pipeline explosion in a San Francisco Bay area suburb.
The state Public Utilities Commission unanimously approved the rate increase on Thursday. It was less than what PG&E had sought.
Commissioners said they were trying to strike a balance between punishing PG&E for past mismanagement and encouraging the company to invest in safety.
The costs to repair and upgrade the pipelines has been estimated at around $2 billion.
The 2010 blast in San Bruno killed eight people and destroyed 38 homes.
PG&E has claimed in court filings that the explosion was an accident.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at email@example.com, and include the name of the story and information on the comment.
Thank you! KSBY.com
2 hours ago