SAN FRANCISCO -- California regulators on Thursday unanimously approved a two-year Pacific Gas and Electric Co. rate increase of $299 million to help pay for pipeline inspection and upgrade costs in the wake of the fatal 2010 gas pipeline explosion in a San Francisco Bay area suburb.

The amount approved by the California Public Utilities Commission was considerably less than the nearly $769 million PG&E had sought, but more than survivors of the blast felt the company should be allowed. Residential customers will see their monthly bills go up by an average of 88 cents next year and $1.36 in 2014, utility spokeswoman Brittany Chord said.

The money is aimed at safety testing, replacing and upgrading hundreds of miles of PG&E's gas transmission lines after the Sept. 9, 2010, blast that killed eight people and destroyed 38 homes in the bedroom community of San Bruno. The total cost of those improvements has been estimated at around $2.2 billion.

Read more at Huffington Post