PG&E Pays $172 million to California Counties

SAN FRANCISCO, Dec. 18, 2014 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) 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.

PG&E recently paid property taxes of more than $172 million to the 49 counties in which it provides service to 16 million Californians. The payment covers the period from July 1 to December 31, 2014. Total payments for the tax year of July 1, 2014 to June 30, 2015 will be $344 million—an increase of $27 million over the prior fiscal year.

"Our timely payment of property taxes helps local governments support essential public services for their residents," said Mark Caron, PG&E's Vice President of Taxes. "These payments also reflect the substantial ongoing investments in our gas and electric infrastructure that are creating one of the safest and most reliable utility systems in the country."

PG&E invested more than $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.                                                                                                  

An economic impact report issued this year shows that PG&E's investments, purchases and payroll, in addition to the taxes and fees it pays, help drive California's economy. PG&E contributed $22.2 billion of economic activity and supported nearly 71,600 jobs in its service area in 2012.

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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SOURCE Pacific Gas and Electric Company

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