PG&E Announced $450-Million In Savings From Recent Federal Tax Cut

PG&E Announced $450-Million In Savings From Recent Federal Tax Cut

PG&E announced yesterday that the utility is expecting to have $450-million in annual savings as part of the recent federal tax cut and will use $325-million to reduce planned rate hikes.  In a proposal submitted to the California Public Utilities Commission, PG&E requested utilizing the $325-million over at least the next two years.   This would mean residential electricity customers could still see a price increase, on average, of around $5 per month.   Also yesterday the utility filed a Catastrophic Event Memorandum Account Application seeking to recover $183-million for safely restoring power to areas that had fire and storm emergencies between 2016 and 2017.  During that period over 2.5 million customers lost electricity and 17,000 pieces of PG&E equipment were damaged or destroyed.

Written by KVGC Staff

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