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To help pay for it all, the utility on Monday asked the California Public Utilities Commission to okay a rate increase that would cause the average monthly bill to go up by about $12 starting in January.
Add that to a separate request for a wildfire-related rate increase the utility made in December, and the average bill would go up by more than $22 per month if both are approved.
"It's terrible. I wouldn't like that at all," PG&E customer Robert Skarda told KPIX-5. "No, they'll have to think of something else. They probably should have the stock owners pay a lot of that."
Mark Toney, executive director of The Utility Reform Network, aid what the utility is asking for is out of line.
"It makes no sense to make rate payers pay the price. The customers have done nothing wrong. It is outrageous that PG&E is looking for yet another bailout from rate-payers for its negligence when it comes to wildfires."
PG&E's Chief Financial Officer Jason Wells said in a statement that the rate hike will enable the utility to meet the future energy needs of its customers.
"In order to invest in the affordable, safe, reliable and clean energy future our customers expect and demand, investors must continue to play a vital role in providing the capital necessary to fund essential safety and reliability infrastructure upgrades," Wells said. "These investments allow PG&E to offset the upfront, immediate costs of these long-term projects to our customers," adding that the company hopes to work with state officials to reduce customers' costs.
Governor Newsom's office, however, released a statement that disapproves of PG&E's attempt to increase rates.
"PG&E is requesting massive increases in costs to ratepayers in order to generate profits for investors. All, while wildfire victims' claims sit in bankruptcy," Newsom's statement said.
Update: This story has been revised to include a statement from PG&E.