Answer: Utilities expense is the cost incurred by using utilities such as electricity, water, waste disposal, heating, and sewage. The expenses are incurred over the course of the reporting period, calculated, and accrued for, or payment is rendered.
The utility industry faces several challenges today, including the need to modernize infrastructure, improve grid resilience, and address climate change.
Pacific Gas and Electric Company (PG&E) has been penalized $45 million by the California Public Utilities Commission (CPUC) for its role in the 2021 Dixie Fire. The proposed penalty includes a $2.5 million fine to the California General Fund, a $2.5 million payment to tribes impacted by the Dixie Fire for remediations, and $40 million for capital expenditures to transition records to electronic format .
Renewable energy is a growing trend in the utility industry. In 2020, renewable energy sources accounted for 20% of total U.S. electricity generation.
Smart grid technology is being implemented by utilities to improve grid efficiency and reliability. Smart grids use digital communication technologies to monitor and control power flows in real-time.
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