Pacific Gas and Electric bills will jump by about $34.50 each month for average households starting Monday, according to an end-of-the-year rate adjustment the company filed with state regulators Friday.

The new forecast — about $2 higher than earlier estimates — rounds out a historic year of PG&E rate hikes the company estimates will increase household gas and electric bills by more than $400 annually compared to 2022.

The California Public Utilities Commission and PG&E executives have said the rate changes are necessary for the company to update its aging infrastructure, meet a growing demand for electricity and reduce the risk of power line-sparked fires after years of disastrous blazes.

Carla Peterman, chief sustainability officer and executive vice president of corporate affairs for PG&E Corp., said in a statement that the company plans to minimize future rate changes to align more closely with inflation.

[How ‘BOUT them windfarms?! ~ Beege]