PG&E trims residential electric rates by 2.1% and offers October bill credit
Pacific Gas and Electric Company (PG&E) announced a 2.1% reduction in electric rates for residential customers, effective this Monday. The move is expected to save the typical household about $5 per month for those using 500 kilowatt-hours.
The rate cut follows a series of wildfire safety and emergency-response upgrades that allowed PG&E to remove temporary costs from its rates. In addition to the rate reduction, residential customers will see a one-time credit of $58.23 on their October bills. The credit is part of a state program designed to support the transition to a low-carbon future and is distributed biannually in the spring and fall.
Carla Peterman, PG&E’s executive vice president of corporate affairs and chief sustainability officer, commented on the changes: “While we continue making progress to stabilize electric prices for our customers, we know there is more work to do. Our focus is on making our system safer and more reliable for customers every day, while managing our costs to keep bills as low as possible.”
Over the past three years, PG&E reports saving approximately $2.5 billion through efficiency improvements and technology, including drone inspections and project bundling. Those savings have been reinvested into safety and reliability enhancements across the grid.
National trends and PG&E’s outlook
PG&E’s rate reductions come even as the U.S. Energy Information Administration anticipates a rise in national electric prices through 2026, outpacing inflation. The company notes that its efforts to stabilize rates stand in contrast to this broader trend, with the potential for further reductions anticipated in 2026.
Separately, PG&E said it has also reduced gas rates by 0.4% in September, saving typical residential customers about $0.39 per month.
Key figures to know
– Residential electric rate reduction: 2.1%
– Typical monthly savings (500 kWh): about $5
– October bill credit: $58.23
– Three-year savings from efficiency/tech: about $2.5 billion
– Gas rate change (September): down 0.4% (about $0.39/month)
Additional context and outlook
The rate moves reflect ongoing investments in safety and reliability, funded in part by efficiency gains and the removal of temporary costs. Customers can expect continued focus on stabilizing bills while PG&E carries out further safety and infrastructure upgrades. As the energy market evolves, PG&E’s balance of cost management and grid improvements aims to provide more predictable bills for households, even as broader national prices are projected to rise.
Summary
PG&E’s latest actions deliver tangible bill relief for residential customers through a rate cut and a sizable October credit, while highlighting significant efficiency-driven savings that have funded safety and reliability upgrades. The combination offers a hopeful signal for customers seeking steadier utility costs amid a shifting national energy landscape.