Stoked by concerns over wildfire risks and mitigation, Pacific Gas and Electric Co. (PG&E) has asked California regulators to approve up to $5.5 billion in a rate hike from 2023-2026, a period during which it plans to spend $7.4 billion for related safety programs.

About half of the general rate increase would cover wildfire reduction work, including vegetation management, said spokesperson Kristi Jourdan. The added rates are “proposed investments.”

If the California Public Utilities Commission (CPUC) approves the request, typical residential customers face an increase of more than $430 annually. That’s an added monthly increase of $25 for electricity and nearly $11 for natural gas utility service.

PG&E characterized the request as a series of “crucial safety,...