FRESNO, Calif. (KSEE/KGPE) – Yet another rate hike could be coming for Pacific Gas & Electric customers. The utility company says they need it to "adequately compensate investors."  This request comes as PG&E just posted record profits of over $2.4 billion dollars, and the California Public Utilities Commission approved six rate increases in 2024. The utility company announced on Thursday that they have submitted what's called a Cost of Capital application for 2026 - and with that, they're asking for another rate increase.  PG&E did not have a company official available for an interview Friday, but in a statement posted to their website they say they need to "adequately compensate investors" for the risks they say investors face by investing in PG&E.  They add with the new increase; investors would earn 11.3% return on equity investment. They say that level is reasonable.   The PG&E website says these are the risks their investors face:  Inflation and supply chain disruption that can impact prices and interest rates  Recent federal government actions that could impact costs Impacts from climate change such as extreme weather events  California’s policy of inverse condemnation that makes utilities strictly liable for damages caused by their equipment PG&E However, local Fresno business owner Manny Perales does not agree.  "It's two times my rent at certain months. I mean, it's just it's out of control and it needs to stop," the Yosemite Falls Cafe owner said.  He said he thinks this has gone too far, and something has to change.  Fresno restaurant hit with $21K PG&E bill "They're asking for money for the investors, well, what about us? I mean, we invested in our business and we're trying to make a profit and we don't always make a profit, especially with what they've done to us," Perales said.  The statement also says if approved, residential customers should see their bills go up by $5.50 each month, but doesn't say how much of an increase commercial businesses could see.  "It's that tight. You know, I'm paying $110 for a case of eggs that used to be $18 to $24, you know, so I can't take those hikes like they do with my customers because I know my customers wouldn't be able to afford it," he said.  If approved, this new rate increase could go into effect any time after Jan. 1, 2026.  PG&E also says this April customers should see credits on their upcoming bills.  A press release from the company on that topic says residential homes with just electric will receive a credit of $58.23. They add, residential homes with a gas account with receive a $67.03 credit. They say customers receiving both gas and electric service from PG&E should get a $125.26 credit. ...read more read less