California CPUC Sets 2026-2028 Cost of Capital for Major Utilities

The California Public Utilities Commission (CPUC) has established the 2026-2028 Cost of Capital for the state's four largest energy investor-owned utilities. The cost of capital is set at just under 10 percent for Pacific Gas and Electric Company, Southern California Gas Company, and San Diego Gas & Electric, and slightly over 10 percent for Southern California Edison. These financial parameters will guide how utilities secure funding for the maintenance and modernization of California's electric and natural gas systems, which include infrastructure such as poles, wires, substations, and wildfire safety upgrades.