PG&E pays $324 million in property taxes and franchise feesStaff writer ▼ | April 16, 2015
Pacific Gas and Electric Company (PG&E) paid property taxes and franchise fees of more than $324 million this spring to the 49 counties and 243 cities in which it provides service to 16 million Californians.
Giving back Pacific Gas and Electric Company
PG&E's franchise fee payments totaled more than $152 million – more than $45 million for natural gas and more than $107 million for electric service. This sum is almost $8 million more than the previous year's.
PG&E also 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.
On April 10, PG&E paid property taxes of more than $172 million to the 49 counties in which it owns property. The payment covers the period from January 1 to June 30, 2015. Total payments for the tax year of July 1, 2014 to June 30, 2015 are $344 million—an increase of $27 million over, or 8.6 percent more than, the prior fiscal year.
PG&E invested more than $5 billion last year and expects to invest $5.5 billion this year to enhance and upgrade its gas and electrical infrastructure across Northern and Central California. ■