PG&E to lower electric, gas rates in the new year

article

PG&E truck

SAN FRANCISCO - PG&E will lower its electric and natural gas rates beginning on January 1, marking the fourth rate cut made by the utility company in about two years.

By the numbers:

The company said electricity rates will decrease by about 5%, which translates to roughly $7 per month saved for average PG&E customers and $4 per month saved for California Alternate Rates for Energy (CARE) customers.

PG&E said that, when combined with previous decreases, residential electric rates will be 11% lower than in January 2024.

Additionally, PG&E natural gas rates will decrease by 3% for average customers, while prices for CARE customers will decrease 2.6%

What they're saying:

The utility company said the electric rate cuts are due to PG&E completing a number of "safety and reliability projects" for customers, while the gas rate cuts are due to certain costs coming out of rates and lower greenhouse gas compliance costs, PG&E said.

"We know how important stable and predictable bills are for families and businesses. That’s why we are lowering rates, even as national prices are expected to rise," said Pacific Gas and Electric Corporation CEO Patti Poppe. "Our actions match our promises. We've reduced electric rates multiple times since 2024, and we remain committed to finding new ways to save and pass those savings on to our customers."