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7.A. - Page 109 of 285 <br />2019 Energy Efficiency Ordinance Cost-effectiveness Study <br />Escalation Assumptions <br />The average annual escalation rates in the following table were used in this study and are from E3's 2019 study <br />Residential Building Electrification in California (Energy & Environmental Economics, 2019). These rates are <br />applied to the 2019 rate schedules over a thirty-year period beginning in 2020. SDG&E was not covered in the E3 <br />study. The Reach Code Team reviewed SDG&E's GRC filing and applied the same approach that E3 applied for <br />PG&E and SoCalGas to arrive at average escalation rates between 2020 and 2022. <br />Table 24: Real Utility Rate Escalation Rate Assumptions <br />Statewide Electric <br />Residential <br />Average Rate <br />(%/year, real) PG&E <br />Natural Gas Residential Core Rate <br />(%/yr escalation, real) <br />SoCalGas SDG&E <br />2020 <br />2.0% <br />1.48% <br />6.37% <br />5.00% <br />2021 <br />2.0% <br />5.69% <br />4.12% <br />3.14% <br />2022 <br />2.0% <br />1.11% <br />4.12% <br />2.94% <br />2023 <br />2.0% <br />4.0% <br />4.0% <br />4.0% <br />2024 <br />2.0% <br />4.0% <br />4.0% <br />4.0% <br />2025 <br />2.0% <br />4.0% <br />4.0% <br />4.0% <br />2026 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2027 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2028 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2029 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2030 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2031 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2032 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2033 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2034 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2035 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2036 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2037 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2038 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2039 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2040 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2041 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2042 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2043 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2044 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2045 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2046 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2047 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2048 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />2049 <br />1.0% <br />1.0% <br />1.0% <br />1.0% <br />56 <br />2019-08-01 <br />361 <br />