PG&E Receives Approval of New Electric and Natural Gas Revenues Customers to See Minor Effect on Rates
Release Date: May 5, 2011
Contact: PG&E External Communications (415) 973-5930
SAN FRANCISCO, Calif. – Pacific Gas and Electric Company (PG&E) announced today that it received approval of its 2011-2013 General Rate Case (GRC) revenue needs from the California Public Utilities Commission (CPUC) to fund its electric and natural gas distribution operations and electric generation facilities.
"This decision will allow us to continue our focus on providing safe and reliable electric and gas service over the next three years," said Tom Bottorff, PG&E's senior vice president of regulatory relations. "These funds are necessary to connect new customers, repair and replace aging infrastructure, and restore service during storms."
The decision will have no immediate effect on PG&E's electric rates. The difference between the revenues approved today by the CPUC and what PG&E is already collecting in rates is less than one tenth of one percent. Therefore, PG&E does not intend to change its electric rates to reflect the new revenues until January 2012 when other revenue changes are typically reflected in rates. On the gas side, PG&E's average residential rate will increase by 2.4 percent to $1.22 per therm on June 1 along with normal monthly changes that reflect gas market prices.
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: