Several people NBC 7 and Telemundo 20’s Sergio Flores spoke with on Wednesday were shaking their heads when he discussed how much money the utility made last year.
Genaro Rivera was kicking a soccer ball around with a friend and a bunch of dogs at Civita Park in San Diego on Wednesday.
He said spending time at the park on his days off is good for his health and good for his budget. If he's not home, he's not using electricity during peak hours.
“We have a washer and dryer in our unit, so that definitely takes a lot more, and then we also have an electric stove, and all those things,” Rivera said as he dribbled the soccer ball between his feet.
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Rivera, who splits the bills with his sister, said he's had sticker shock with regard to his SDG&E bill.
“We turn on the AC — luckily we have one in my apartment — but then all of a sudden, we check the app and we’re like, ‘Oh, whoa!’ ” exclaimed Rivera, referring to the SDG&E app that shows him the bill every month.
Rivera was just as shocked when he was told that the company made $891 million in profits in 2024. However, last year's profits are lower than the previous two years:
- 2024: $891 million
- 2023: $936 million (record high)
- 2022: $915 million
The Utility Reform Network said in a statement, “While SDG&E executives and shareholders rake in millions while bankrolling lobbying efforts, everyday San Diego residents are left struggling to afford skyrocketing utility bills.”
NBC 7 Responds
In December, the California Public Utilities Commission approved SDG&E’s request to increase a customer’s electricity bill by 2.6% and gas by 1.8%. Families will also see increases in 2026 and 2027.
In a statement to NBC 7 Responds, SDG&E did not directly address the profits but said:
“SDG&E understands affordability is a top concern for our customers, and that’s why we were pleased that for most residential customers, the SDG&E portion of electricity bills went down for the second year in a row. We continue to work with policymakers on legislation to address affordability. At the same time, we remain focused on reducing operational costs to help control the rise of electricity prices and stabilize bills while still delivering the exceptional service our customers expect.”
San Diego mayor Todd Gloria opposed the rate hikes, warning SDG&E that the city will continue to analyze the feasibility of forming a public power entity.
If you’ve fallen behind on your bill or can’t seem to keep up paying it every month, SDG&E offers a few programs that may be able to help. You can also use rebates on appliances and other products that help you save energy, and check out these tips for ways to save money every month.
