PG&E Wants to Hike Rates to Hike Profits

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One day after Pacific Gas and Electric Corp. asked state regulators to approve a rate hike to attract investors, a bankruptcy judge approved the utility's plan to pay $235 million in bonuses.

Depending on how many proposed recent rate hikes you include, it looks like your PG&E bill will go up by $12 to $23.

Bill Johnson, PG&E's new CEO, is set to receive a salary of at least $6 million a year if he plays his cards right.

Not bad for a company in bankruptcy.

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