PG&E Pays More in Property Taxes Due to Facility Upgrades

SAN FRANCISCO--(BUSINESS WIRE)-- Pacific Gas and Electric Company (PG&E) paid property taxes and franchise fees of more than $324 million this spring to the 49 counties and 243 cities in which it provides service to 16 million Californians.

“Our timely payments help cities and counties support essential public services for their residents. These payments also reflect the substantial ongoing investments in gas and electric infrastructure that are creating one of the safest and most reliable utility systems in the country,” said Kent Harvey, PG&E Senior Vice President and Chief Financial Officer.

PG&E pays franchise fees to cities and counties for the use of public streets for its gas and electric facilities. The utility submitted the fees to counties by March 31 and to cities by April 15.

PG&E’s franchise fee payments totaled more than $152 million – more than $45 million for natural gas and more than $107 million for electric service. This sum is almost $8 million more than the previous year’s.

PG&E also increased its payment of property taxes sharply this year as the utility continued to make significant investments in its gas and electric system to improve safety and reliability.

On April 10, PG&E paid property taxes of more than $172 million to the 49 counties in which it owns property. The payment covers the period from January 1 to June 30, 2015. Total payments for the tax year of July 1, 2014 to June 30, 2015 are $344 million—an increase of $27 million over, or 8.6 percent more than, the prior fiscal year.

PG&E invested more than $5 billion last year and expects to invest $5.5 billion this year to enhance and upgrade its gas and electrical infrastructure across Northern and Central California. One such investment is the recently completed $28.5 million state-of-the-art electric distribution control center in Fresno. PG&E expects to open two more control centers in Concord and Rocklin this year.

PG&E supports the communities it serves in a variety of ways. Last year PG&E provided more than $23 million in community grants and investments to enrich local educational opportunities, preserve the environment, and support economic vitality. PG&E employees provide thousands of hours of volunteer service in their local communities. The company also offers a broad spectrum of economic development services to help local businesses grow.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit www.pge.com/ and www.pge.com/en/about/newsroom/index.page.

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PG&E’s Second Installment of Property Taxes Paid on April 10, 2015

Source: Pacific Gas and Electric Company