Climate Credit from State Program Will Lower Bills this Month

Rhea-AI Summary

Pacific Gas and Electric Company (NYSE:PCG) announced that over 5 million electric customers will receive a $39.30 California Climate Credit on their October bills, up from last year's $17. This credit is part of California's climate change initiative and aims to reduce customer energy bills. For the first time, eligible small business customers will also receive this credit. By year-end, total credits will exceed $126. PG&E continues to support customers with various programs to help save energy costs.

Positive

• Residential electric customers receive a $39.30 credit, significantly higher than last year's $17.
• Total customer credits for the year will exceed $126.
• Eligible small business customers are receiving the credit for the first time, enhancing support for businesses.

Negative

• None.

Electric Residential and Eligible Business Customers Will Receive $39.30 Bill Credit

OAKLAND, Calif.--(BUSINESS WIRE)-- More than 5 million Pacific Gas and Electric Company (PG&E) electric customers will automatically receive the California Climate Credit on their energy bill this month. The credit was created by the California Public Utilities Commission (CPUC) as part of the state’s efforts to fight climate change. PG&E is pleased to administer the credit in a timely manner to help reduce customer energy bills this month.

In addition to residential customers, eligible business customers will be receiving the California Climate Credit for the first time.

Residential electric customers will receive a credit of $39.30 on their October bills, compared to last fall’s credit of $17. This is the second credit of the year for residential households. In April, natural gas residential customers received a credit of $47.83 and electric residential customers received a credit of $39.30.

Customers with both services saw a total credit of $87.13 in April so including the October credit of $39.30, the total credit for this year will be more than $126.

For the first time, small business electric customers also will receive a credit of $39.30. Eligible small business customers might receive double the credit amount if they qualify for both 2022 (April and October) credits. Starting in 2023, eligible business customers will receive the credit twice a year along with residential customers.

The California Climate Credit is one of many programs developed as part of the Global Warming Solutions Act of 2006. It requires power plants, natural gas providers, and other large industries that emit greenhouse gases to buy carbon pollution permits. This credit represents customers’ share of the payments from the state’s program.

Additional Ways to Reduce Energy Bills

PG&E offers various programs to help customers save money and energy.

• California Alternate Rates for Energy (CARE) Program saves 20% or more each month on energy bills for income-qualified customers.

• Family Electric Rate Assistance (FERA) Program offers a 18% monthly discount on electric bills for income-qualified customers with three or more people in the household.

• Medical Baseline provides a lower monthly rate for customers with special energy needs due to certain medical conditions.

• Budget Billing averages out energy costs for more predictable monthly payments and eliminates big spikes in bills due to seasonal changes.

• Bill Forecast Alerts are notifications sent by email, text or phone notifying the customer if their monthly bill is expected to exceed a specific amount set by the customer.

Smart devices also can help customers manage energy use and costs. This year, new participants in PG&E’s SmartAC program receive $75 for existing thermostats or $120 off a purchase of a new thermostat. The voluntary program helps enhance grid reliability by encouraging participants to shift energy use out of the hours when it’s most in demand.

To learn more about the Climate Credit, visit the CPUC’s California Climate Credit page.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004006038/en/

MEDIA RELATIONS:

415-973-5930

Source: Pacific Gas and Electric Company

FAQ

What is the California Climate Credit for PG&E customers?

The California Climate Credit provides a $39.30 credit for PG&E electric customers on their October bills as part of California's climate initiatives.

When will PG&E customers receive their climate credit?

PG&E customers will receive the California Climate Credit on their October energy bills.

How much will small business customers receive in credits from PG&E?

Small business electric customers will also receive a $39.30 credit for the first time.

What was the previous climate credit amount for residential customers?

Last year's climate credit for residential customers was $17.

How much total credit can customers expect this year from PG&E?

Customers can expect to receive over $126 in total credits from PG&E this year.