Investor-owned utilities in California — including San Diego Gas & Electric — will earn smaller rates of profit on their infrastructure projects next year under a proposed decision that will soon go before the five voting members of the California Public Utilities Commission.

In SDG&E’s case, what’s called the utility’s “return on equity” would drop from 10.23% in 2026 to 9.88% under the figures released late last week. .

It’s difficult to say what the lower rate would mean for the monthly bills that SDG&E customers pay, but the pending vote comes at a time when high utility rates have become a major concern across California and in the San Diego area in particular.

The commission, or CPUC, each year conducts what’s called a cost of capital proceeding that includes setting a return

See Full Page