f your electric bill has gone up again, you're not imagining things. California homeowners served by Southern California Edison (SCE) and San Diego Gas & Electric (SDG&E) have seen some of the steepest rate hikes in the country—and there’s more on the way.

These utility giants say it's all about safety, clean energy, and upgrading the grid. But a deeper look shows something else at play: record profits and growing investor returns—paid for by you.

Here’s what you need to know:

⚡ Southern California Edison (SCE)

SCE customers are already feeling the sting of higher bills—and more increases are coming.

• 📈 Big Profits, Bigger Demands
  SCE made $1.69 billion in profit in 2024—its highest ever. Despite that, it’s asking regulators for permission to raise its shareholder returns from 10.33% to 11.75% starting in 2026.

• 💸 Rate Hikes Keep Coming
  A new proposal would increase SCE’s revenue by $381 million, meaning your bill could jump another 2.2% next year.

• 🧾 Already Paying More
  Residential customers saw their monthly bills go up by about $17 in 2024, with smaller increases planned through 2028.

• 🛠️ Where’s the Money Going?
  SCE says these increases are needed for wildfire safety, clean energy projects, and infrastructure upgrades—but critics say it’s also lining the pockets of investors.

🔌 San Diego Gas & Electric (SDG&E)

If you live in San Diego County, you already know: SDG&E has the highest electric rates in California—and some of the highest in the nation.

• 💰 Skyrocketing Rates
  SDG&E’s residential rate has climbed from 28.9¢ to 47.6¢ per kilowatt-hour in just four years. That’s a 65%+ increase since 2020.

• 💸 Record Profits While Customers Struggle
  SDG&E reported $936 million in profit in 2023, followed by $891 million in 2024. And yes—more rate hikes are coming.

• 📈 Another Bump in 2025
  Approved changes will raise the average monthly bill by $3 to $5.50 starting next year.

• 🏦 Sempra Energy’s Cash Cow
  SDG&E is owned by Sempra, a major publicly traded company. Watchdogs say the parent company prioritizes investor payouts over customer relief—calling their profits “obscene” during a time when many Californians are struggling.

• 🔥 The Wildfire Excuse?
  Like SCE, SDG&E says these hikes are necessary for wildfire prevention and climate resilience. But critics argue that spending is often excessive and poorly monitored.

🧠 The Bottom Line: Who’s Looking Out for Homeowners?

With both SCE and SDG&E pushing for higher rates while celebrating record profits, it’s fair to ask: Are utilities serving the public, or Wall Street?

Meanwhile, homeowners are left footing the bill—paying more for the same power, while options like rooftop solar face growing restrictions.

If you’re frustrated with rising energy costs, now might be the time to explore alternatives like solar, battery storage, and energy-efficient upgrades. Because while the utilities chase investor profits, your best bet for savings might come from taking control of your own power.

Want help evaluating your energy options? Reach out for a free quote or energy audit. Don’t wait—future rate hikes are already in motion.