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2w ago

PG&E Lowers Residential Electric Rates 2.1% for September, Gas Down 0.4%

PG&E says completed wildfire-safety work enabled temporary costs to roll off bills.

A PG&E substation on Novato Boulevard in Novato on Wednesday, Oct. 13, 2021. (Alan Dep/Marin Independent Journal)
Power transmission lines cross a street in Sonoma, as seen in October 2018. 

Overview

  • Effective Sept. 1, residential electric rates fell 2.1%, cutting a typical 500 kWh customer's monthly bill by about $5.
  • Residential gas rates decreased 0.4% at the same time, saving a typical 31-therm customer roughly $0.39 per month.
  • October electric bills will include a $58.23 California Climate Credit for residential customers.
  • PG&E attributes the reduction to removal of temporary wildfire and emergency-response costs from rates and to about $2.5 billion in efficiency-driven savings.
  • The company says this is the third residential electric-rate cut in 15 months with additional bill declines expected in 2026, contrasting with EIA forecasts of rising U.S. electricity prices through 2026.