Bit. This is what happened here. The 2year treasury yield topping 5 after fed chair jay powell made his first comment after the hotter than expected data. We said its moving sustainably toward 2 before proemtsly easing policy. The recent data have clearly not given us greater confidence and instead indicate that its likely to take longer than expected to achieve that confidence. Powell echoed recent statements by other fed officials indicating the current policy level will likely stay in place until inflation gets closer to its target. And so effectively, andrew, hes saying the data has been coming in increasingly hot. Weve been trending toward it. Now the question for the markets is will we have to establish a new trend and is the bar even higher to start cutting rates. Weve seen banks push out in september, which is 68 at this point. Some have said maybe none in 2024. Maybe its 2025. Can you believe were at 7 . Thats always crazy. I dont think the street should have ever been at 7 or
That doesnt have any loops. The idea is in this program all that deferred maintenance should be complete. Thats the majority of the work. At 34,000 per light thats 40 million of investment by pg e. Supervisor kims mentioned the money is there and it will be updated in the next 3 to 5 years. Going back to level of Service Expectations ive taken the lead and weve established what pg e is going to do and share data and communicate with the city and the puc to make clear to resident whos responsible for what kind of work. Most outages will be reward in thirty days pg e is going to do the mapping by location so we can identify who owns what. That means the one day or two days of back and forth. The cause of the out age all those are things will be part of the data set well give the city to inform the city broadly and a hour were responding. That gives u gives you more clarity in the operational news and bring the San Francisco employees out to take the of our data we see the reliability in
The work. To the extent theres funding were more happy to do that so long as they set the rules that the puc has created for us has b there been discussions with the puc trying to balance the need for access on those multiple use wooden poles that pg e has with the upgrade of lighting thats an issue. Were trying to find a way to balance the requests. 70 thousand square miles long most of our other customers and perhaps in more rural areas are less willing to take on imcredential costs. Our customers dont want to make that kind of investment in the infrastructure supervisor jane kim. By the way, thank you for addressing some of my questions. I wanted to make sure i didnt have the presentation in front of me but the remittance for pg e would have the capital cost improvements for over 5 years those increases are the improvements now but the cost of the service in San Francisco. One of the things we pointed out in our earlier slides San Francisco is very, very expensive to serve to look a
Be complete. Thats the majority of the work. At 34,000 per light thats 40 million of investment by pg e. Supervisor kims mentioned the money is there and it will be updated in the next 3 to 5 years. Going back to level of Service Expectations ive taken the lead and weve established what pg e is going to do and share data and communicate with the city and the puc to make clear to resident whos responsible for what kind of work. St outages will be reward in thirty days pg e is going to do the mapping by location so we can identify who owns what. That means the one day or two days of back and forth. The cause of the out age all those are things will be part of the data set well give the city to inform the city broadly and a hour were responding. That gives u gives you more clarity in the operational news and bring the San Francisco employees out to take the of our data we see the reliability in repairs are taking longer thats because pg e trouble men are being sent to other areas to repai
Providing the Funding Services in San Francisco. Were also looking at the opportunity to utilizes generation bond. We have a program of improvements that we would recommended where we able to use general obligation funds to if you happened this, you know, Safety Service that the puc has been managing on behalf of city are street lights in the city 10 year capital plan . The street light are in the puc capital plan and in that way yes. Okay. It seems like we as the city admiringly over the loose 6 years has become more methodical and organized around our Capital Needs. Weve seen improvements around the parks and a whole variety of areas. It strikes three and 4 that street lights excuse me. Are such a critical part of our cities daily life. Uhhuh. And that its and they need to be priority tied in a more significant way. And so i apologize for my allergies. I hope we can move in that direction. Im not being critical of the puc in terms of the choices i know you have to deal with a lot of