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PUC outlines $500M 'fiscal cliff' for power enterprise; staff gives three scenarios and seeks mayoral, BOS engagement
Summary
Staff told the commission that the Hetch Hetchy power enterprise faces a roughly $500 million shortfall driven by capital, transmission and regulatory costs; they presented three scenarios (capital cuts, higher general‑fund rates/subsidies, bonding) and will return with proposals after May 1 mayoral budget.
The San Francisco Public Utilities Commission on April 22 presented a 10‑year financial plan and capital program for Hetch Hetchy and the power enterprise that identifies a projected fiscal shortfall of roughly $500 million if no changes are made.
Todd Richstrom and other staff explained the gap is driven primarily by required capital investments — notably mountain tunnel improvements — and by higher forecasted transmission and distribution costs from PG&E and increased…
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