SAN FRANCISCO–(BUSINESS WIRE)–Pacific Gas and Electric Company (PG&E) is paying property taxes and
franchise fees of more than $388 million this spring to the 50 counties
and 247 cities where the energy company owns and operates gas and
electric infrastructure that serves 16 million Californians. This is an
increase of $21 million over payments made a year ago.
“Property tax and franchise fee payments are one of the important ways
PG&E helps drive local economies and support essential public services
like education and public safety. This year’s higher payments reflect
the substantial local investments we are making in our gas and electric
infrastructure to create one of the safest and most reliable energy
companies in the nation,” said Jason Wells, senior vice president and
chief financial officer for PG&E.
PG&E increased its payment of property taxes sharply this year as the
energy company continued to make significant investments in its gas and
electric system to support safety and reliability. PG&E received
authorization from the bankruptcy court to pay property taxes and
franchise fees so this support for local governments and schools would
On April 10, PG&E paid property taxes of over $260 million to the 50
counties in which it owns property. The payment covers the period from
January 1 to June 30, 2019. Total payments for the tax year of July 1,
2018 to June 30, 2019 are more than $520 million—an increase of $58
million, or 12 percent, over the prior fiscal 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
submitted the fees by April 15.
PG&E’s franchise fee payments totaled nearly $129 million – almost $36
million for natural gas and $93 million for electric service.
PG&E invested about $6 billion last year to enhance and upgrade its gas
and electrical infrastructure across Northern and Central California.
PG&E supports the communities it serves in a variety of ways. Last year
PG&E provided nearly $28
million in community grants and investments to enrich local
educational opportunities, preserve the environment, and support
economic vitality and emergency preparedness. 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.
Pacific Gas and Electric Company, a subsidiary of PG&E
Corporation (NYSE:PCG), is one of the largest combined natural gas
and electric energy companies 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/
PG&E’s Second Installment of Property Taxes Paid on April 10, 2019
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