PG&E Pays $302 million to California Cities and Counties

SAN FRANCISCO, April 15, 2014 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) paid property taxes and franchise fees of more than $302 million this spring to the 49 counties and 243 cities in which it provides service to 15 million Californians.

"We have the privilege of serving more than 15 million Californians," said Kent Harvey, PG&E Senior Vice President and Chief Financial Officer. "With that privilege comes the responsibility to support the local communities in Northern and Central California through the payment of property taxes and franchise fees associated with our facilities. " 

"Making these payments in a timely manner helps cities and counties support essential public services for their residents," said Harvey. "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."

PG&E pays franchise fees to cities and counties for the right to use public streets for its gas and electric facilities. The utility completed its 2013 payments to counties by March 31 and to cities by April 15.

PG&E's 2013 franchise fee payments totaled more than $144 million – more than $40 million for natural gas and almost $104 million for electric service. This sum is almost $8 million more than the previous year's payments.

PG&E's made property tax payments of more than $158 million, covering the period from January 1 to June 30, 2014, on April 10. Total payments for the tax year of July 1, 2013 to June 30, 2014 were nearly $317 million.

The company's property tax payments to counties for fiscal year 2013/14 increased by $11 million over the previous year's payments as a result of an increase in tax rates and an increase in assessments reflecting PG&E's infrastructure investments.

A recent economic impact report shows that PG&E not only provides more than 15 million Californians with safe, reliable and affordable gas and electricity, but also helps drive California's economy. New research shows that 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 15 million people in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.

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SOURCE Pacific Gas and Electric Company (PG&E)