Helping Fund Local Schools, Public Health and Public Safety: PG&E Pays Property Tax and Franchise Fee Payments to Local Cities, Counties

Rhea-AI Summary

Pacific Gas and Electric Company (PCG) has paid over $406 million in property taxes and franchise fees this spring to California's local governments. This payment includes more than $268 million in property taxes covering the first half of 2021 and franchise fees totaling over $138 million. These contributions support essential public services and reflect PG&E's ongoing investments in infrastructure safety and wildfire mitigation, amounting to $7 billion in 2020. PG&E aims to enhance community support and economic development through these financial commitments.

Positive

• Paid over $406 million in property taxes and franchise fees, supporting local public services.
• Total tax payments for the year exceed $537 million.
• Continued investments in infrastructure for safety and wildfire risk mitigation amounting to $7 billion in 2020.

Negative

• None.

Pacific Gas and Electric Company (PG&E), which serves more than 16 million Californians, is paying property taxes and franchise fees of over $406 million this spring to the 50 counties, 246 local cities and one district where it owns and operates gas and electric infrastructure.

“Property tax and franchise fee payments are one of the many important ways PG&E helps drive our hometowns and supports essential public services like education and public safety. This year’s payments reflect the substantial local investments we are making in our gas and electric infrastructure to create a safer and more reliable system and to better mitigate against wildfire risk,” said Chris Foster, Executive Vice President and Chief Financial Officer for PG&E.

On April 12, PG&E paid property taxes of more than $268 million to the 50 counties in which it owns property. The payment covers the period from January 1 to June 30, 2021. Total payments for the tax year of July 1, 2020 to June 30, 2021 are more than $537 million.

PG&E pays franchise fees to cities and counties for the use of public streets for its gas and electric facilities. The energy company is submitting the fees by April 15.

PG&E’s franchise fee payments totaled more than $138 million – more than $42 million for natural gas and nearly $96 million for electric service.

In 2020, PG&E invested about $7 billion to enhance and upgrade its gas and electrical infrastructure for safety, reliability and wildfire mitigation across Northern and Central California, and the increase in property tax payments reflect those continuing investments.

PG&E supports the communities it serves in a variety of ways. Last year, PG&E and the PG&E Corporation Foundation provided $17.5 million in charitable contributions in communities throughout Northern and Central California to enhance educational opportunities, preserve the environment, and support economic vitality and emergency preparedness. This included more than $1 million in relief to communities and small businesses for COVID 19 impacts. PG&E employees provide volunteer service in their local communities. The company also offers a broad spectrum of economic development services to help local businesses grow.

PG&E’s Second Installment of Property Taxes Paid on April 12, 2021

• Alameda — $32,404,709
• Alpine — $80,538
• Amador — $1,108,032
• Butte — $5,667,359
• Calaveras — $1,191,644
• Colusa — $4,137,638
• Contra Costa — $21,497,366
• El Dorado — $1,740,390
• Fresno — $18,276,652
• Glenn — $1,002,342
• Humboldt — $4,106,763
• Kern — $9,771,985
• Kings — $1,706,582
• Lake — $961,632
• Lassen — $51,276
• Madera — $2,510,612
• Marin — $4,750,923
• Mariposa — $318,727
• Mendocino — $1,824,242
• Merced — $3,967,492
• Modoc — $214,875
• Monterey — $4,022,424
• Napa — $3,369,198
• Nevada — $1,357,769
• Placer — $6,606,295
• Plumas — $2,565,430
• Sacramento — $7,024,199
• San Benito — $877,418
• San Bernardino — $1,450,867
• San Diego — $6,446
• San Francisco — $14,835,825
• San Joaquin — $13,167,723
• San Luis Obispo — $10,392,451
• San Mateo — $15,317,959
• Santa Barbara — $1,180,653
• Santa Clara — $33,320,405
• Santa Cruz — $2,016,295
• Shasta — $6,227,812
• Sierra — $124,531
• Siskiyou — $100,917
• Solano — $6,654,033
• Sonoma — $8,764,068
• Stanislaus — $2,904,283
• Sutter — $1,415,569
• Tehama — $1,551,202
• Trinity — $181,612
• Tulare — $610,668
• Tuolumne — $910,615
• Yolo — $2,917,664
• Yuba — $1,474,638
  
  Total payments -- $268,640,748

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/20210412005848/en/

FAQ

What amount did PG&E pay in property taxes this spring?

PG&E paid over $268 million in property taxes this spring.

How much did PG&E pay in franchise fees?

PG&E's franchise fee payments totaled over $138 million.

What are PG&E's total payments for the tax year?

PG&E's total payments for the tax year are more than $537 million.

What investments has PG&E made in infrastructure?

In 2020, PG&E invested about $7 billion to enhance and upgrade its gas and electrical infrastructure.