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Brief -- Pacific Gas & Electric Co.

California regulators have approved a general rate case settlement agreement for Pacific Gas and Electric Co. (PG&E) for 2017-2019 that includes an $88 million (1.1%) increase this year, pushing the San Francisco-based combination utility's overall authorized revenue level to slightly above $8 billion. The settlement includes small decreases for natural gas and electric distribution operations and a $153 million increase for electric generation this year, while authorizing collective increases of more than $800 million for the subsequent two years -- $444 million (5.5%) next year and $361 million (4.3%) in 2019. The California Public Utilities Commission (CPUC) noted that the revenue levels would allow PG&E to provide "safe, reliable service." CPUC President Michael Pickercalled the settlement "a compromise" that significantly reduces a revenue requirement that was originally sought by PG&E.

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