PG&E to Offer Targeted Electric Rate Reductions

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Program for Eligible Businesses Will Help Retain and Attract Jobs in California

Pacific Gas and Electric Company (PG&E) will soon begin offering a competitive new electric rate aimed at promoting economic development by making it possible for eligible employers to keep, expand or launch new operations in California rather than leave the state. The new rate is designed to benefit all PG&E customers by making more revenues available to cover fixed costs.

The newly approved economic development rate targets companies—with power loads of at least 200 kilowatts—that would otherwise locate operations and hire employees out of state. The rate would provide a 12 percent rate reduction for five years for those who avow that they need it to stay, site new operations, or expand existing facilities in California.

To address the more acute challenges faced by cities and counties in PG&E's service area with unemployment rates at least 25 percent higher than the state average, the utility will offer a more significant rate reduction of 30 percent for five years.

PG&E will file details of its new rate with the California Public Utilities Commission within 30 days and will post information on its website here. Eligibility will be determined by the Governor’s Office of Business and Economic Development.

Article written by Rob Neenan, CLFP President & CEO

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