California Public Utilities Commission Issues Final Decision in PG&E General Rate Case
The California Public Utilities Commission (CPUC) issued its final decision in Pacific Gas and Electric Company's (PG&E) 2014 General Rate Case. The Commission granted about 50 percent of the revenue increase that PG&E requested for 2014 through 2016 to operate, maintain and modernize its gas distribution, electric distribution and electric generation systems and provide customer service.
Typical residential bills for combined gas and electric service will increase less than 6 percent or about $7.50 a month.
"Although the decision represents a significant cut in our request for additional resources to modernize our system for the 21(st) century, we will continue to make safety our top priority as we plan our work going forward," said Chris Johns, President of Pacific Gas and Electric Company. "Importantly, our residential bills will remain well below the national averages for gas and electric service and we are committed to working as efficiently as possible to keep bills low in the future as well."
PG&E plans to adjust gas rates in September and electric rates in October to reflect the Commission's decision. Details of these rate changes by customer class will be filed in advance with the Commission.
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 more than 20,000 employees, the company delivers some of the nation's cleanest energy to nearly 16 million people in Northern and Central California.