PG&E sitting on $830 million in excess payments

Power bills have skyrocketed in the Bay Area as the Pacific Gas and Electric Co. uses the funds to bury power lines, clear trees from its distribution grid, and fix storm damage. However, the agency is overcharging.

Every year PG&E estimates what the average price of power will be to set the rate of how much to charge customers. The price was considerably lower this year, but many were billed the higher estimated amount, which has the utility sitting on excess payments of $830 million, per a review of PG&E's regulatory filings.

Jaxon Van Derbeken has the full report in the video above.