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

Rhea-AI Summary

Pacific Gas and Electric (PG&E) announced a significant payment of over $464 million this spring to support local economies in California. The payments include more than $310 million in property taxes and nearly $154 million in franchise fees paid to various counties and cities. This represents an increase of $84 million in property taxes compared to the previous year. PG&E aims to enhance public services while reinforcing its infrastructure to mitigate wildfire risks and support community development.

Positive

• Paid over $464 million to 50 counties and 246 cities.
• Property tax payments increased by $84 million year-over-year.
• Franchise fees of nearly $154 million reflect strong community support.

Negative

• None.

More than $464 million paid to 50 Counties and 246 Cities

OAKLAND, Calif.--(BUSINESS WIRE)-- Pacific Gas and Electric Company (PG&E), which serves more than 16 million Californians, is paying property taxes and franchise fees of over $464 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 hometown economies and support essential public services like education and public safety. These 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 $310 million to the 50 counties in which it owns property. The payment covers the period from January 1 to June 30, 2022. Total payments for the tax year of July 1, 2021, to June 30, 2022, are more than $621 million. This is an increase of $84 million more than the prior tax year.

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

PG&E’s franchise fee payments totaled nearly $154 million – nearly $106 million for electric service and more than $47 million for natural gas service. This is an increase of over $15 million from the prior year.

PG&E supports the communities it serves in a variety of ways. In 2021, PG&E and the PG&E Corporation Foundation contributed $23 million to 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 services 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 11, 2022

• Alameda - $39,173,605
• Alpine - $86,777
• Amador - $1,288,405
• Butte - $6,415,167
• Calaveras - $1,391,602
• Colusa - $4,471,246
• Contra Costa - $23,764,492
• El Dorado - $2,204,039
• Fresno - $21,143,559
• Glenn - $1,131,060
• Humboldt - $5,368,088
• Kern - $11,198,327
• Kings - $1,964,772
• Lake - $1,101,814
• Lassen - $67,314
• Madera - $2,946,421
• Marin - $5,880,776
• Mariposa - $389,784
• Mendocino - $2,220,860
• Merced - $4,848,364
• Modoc - $240,912
• Monterey - $4,833,954
• Napa - $4,893,029
• Nevada - $1,722,089
• Placer - $7,521,579
• Plumas - $2,937,972
• Sacramento - $8,542,713
• San Benito - $947,500
• San Bernardino - $1,803,434
• San Diego - $864
• San Francisco - $16,328,296
• San Joaquin - $15,336,683
• San Luis Obispo - $8,645,580
• San Mateo - $17,380,941
• Santa Barbara - $1,414,425
• Santa Clara - $38,716,789
• Santa Cruz - $2,487,566
• Shasta - $7,289,376
• Sierra - $163,908
• Siskiyou - $107,691
• Solano - $7,770,183
• Sonoma - $10,623,581
• Stanislaus - $3,254,843
• Sutter - $1,673,284
• Tehama - $1,831,363
• Trinity - $239,288
• Tulare - $702,334
• Tuolumne - $1,116,036
• Yolo - $3,362,125
• Yuba - $1,805,813

Total payments -- $310,750,621.04

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/20220419005953/en/

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Source: Pacific Gas and Electric Company

FAQ

What is the total amount PG&E paid in property taxes and franchise fees in 2022?

PG&E paid over $464 million in property taxes and franchise fees.

When did PG&E make its property tax payments for 2022?

PG&E made property tax payments on April 12, 2022.

How much did PG&E pay in property taxes to counties in 2022?

PG&E paid more than $310 million in property taxes to counties.

What was the increase in franchise fee payments by PG&E in 2022?

Franchise fee payments increased by over $15 million from the previous year.

Which company is making significant payments to California counties and cities?

Pacific Gas and Electric Company (PG&E) is making these payments.