PG&E Pays $286 Million To California Cities And Counties

SAN FRANCISCO, April 25, 2012 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) announced today that it has paid franchise fees and property taxes of almost $286 million to the 49 counties and 243 cities in which it operates.

"Local governments are tackling public safety, environmental protection, health care and education with limited financial resources these days," said Kent Harvey, PG&E's senior vice president and chief financial officer. "Our timely and substantial payments to local governments for property taxes and franchise fees will help communities afford those vital services."

The 2011 franchise fee payments total more than $138 million -- nearly $41 million for natural gas and more than $97 million for electric service. This sum is $582,308 more than last year's payments.

Franchise fees are payments that PG&E makes to cities and counties for the right to use public streets for its gas and electric facilities.

PG&E's property tax payments of $148 million cover the period from Jan. 1 to June 30, 2012. Total payments for the fiscal year 2011-2012 were $296 million.

The company's property tax payments to counties for tax year 2011/12 increased by $14.6 million over the previous year's payments as a result of an increase in assessments reflecting PG&E's infrastructure investments and an overall increase in tax rates.

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 20,000 employees, the company delivers some of the nation's cleanest energy to 15 million people in Northern and Central California. For more information, visit http://www.pge.com/about/newsroom/.

SOURCE Pacific Gas and Electric Company