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PG&E Rates to Decrease Slightly on January 1 Next Rate Change Expected in March

Release Date: December 30, 2010
Contact: PG&E External Communications (415) 973-5930

SAN FRANCISCO, Calif.—Pacific Gas and Electric Company (PG&E) announced today that its average system-wide bundled electric rate will decrease 0.8% on January 1 (see tables below for January bill impact). This rate change will be followed by a slight forecasted increase in March 2011 that is approximately 2.3% less than what the rate was in March 2010. Actual bill impacts in March will vary depending on usage.

"We know our customers care more than ever about their electricity bills during these tough economic times so we are focused on keeping rates down," said Tom Bottorff, Senior Vice President of Regulatory Relations for PG&E. "Smart energy purchasing strategies coupled with lower gas prices have allowed us to pass on savings to the millions of Californians who rely on us for their energy needs."

The January rate change reflects higher operating costs, offset by lower energy purchasing costs. The March rate change will take into account additional transmission-related costs and is expected to include the utility's 2011-2013 General Rate Case (GRC) revenue requirements. PG&E in September filed a settlement with consumer groups on its GRC revenue request and expects a California Public Utilities Commission decision in early 2011.

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 http://www.pge.com/about/newsroom/.

AVERAGE RESIDENTIAL ELECTRIC BILLS

Customer Usage December 2010 January 2011 % Change
550 kWh $77.71 $78.86 1.5%
850 kWh $175.67 $173.67 -1.1%
1,500 kWh $435.86 $427.03 -2.0%
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