Pacific Gas and Electric Company Makes Over $258 Million in Franchise Fees, Property Tax Payments to California Cities, Counties
Release Date: April 19, 2010
Contact: PG&E External Communications (415) 973-5930
SAN FRANCISCO, Calif. – Pacific Gas and Electric Company (PG&E) announced it has made franchise fees and property tax payments totaling more than $258 million to the 49 counties and 244 cities in which it operates. The last payments were made by Thursday, April 15.
The 2009 franchise fee payments total more than $132 million and represent almost $39 million for gas and more than $93 million for electric service.
A franchise fee is a percentage of gross receipts that PG&E pays cities and counties for the right to use public streets to run gas and electric service. The franchise fee surcharge is a percentage of the transportation and energy costs to customers choosing to buy their energy from third parties. PG&E collects the surcharges and passes them to cities and counties.
The property tax payments represent full and timely payment of property taxes due for the period from January 1 to June 30, 2010.
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers some of the nation’s cleanest energy to 15 million people in Northern and Central California. For more information, visit www.pge.com/about/.
A full listing of county-by-county property tax payments is included below.
|PACIFIC GAS AND ELECTRIC COMPANY|
|PROPERTY TAX PAYMENTS|
|TAX YEAR 2009/2010|
|SAN LUIS OBISPO||12,867,011.89|
|Total 2nd Installment Tax Payment||$126,112,860.78|
NOTE TO EDITORS: For more information on franchise fee and surcharge payments to cities and counties, contact PG&E’s External Communications at 1-415-973-5930.