PG&E residential customers see rate increase in 2014

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Pacific Gas and Electric Co. (PG&E) residential customers will see an increase on their monthly bills starting Jan. 1, 2014. PG&E expects an increase of about 2.8 percent, which is $3.38, in their natural gas and electric bills as a result of higher wholesale electricity costs; investments in renewable energy to meet state mandates; and maintaining and updating the utility's infrastructure.

Average residential electric rates will increase about 0.6 percent, which would be $0.23 higher for a typical residential customer, based on average usage.

Average rates for residential gas customers will increase 7.3 percent in January over current rates. A typical residential customer, under normal weather conditions, will see an increase of $3.15.

PG&E expects to bring about 1,200-MW of new capacity from independent renewable energy projects online in 2014.

The utility released the change for the average residential customers:

Typical Residential Electric Bills*                                             

    Usage   Current         January 1, 2014      Change       Percent

    350 kWh          $46.42               $46.42        $0.00         0.0%

    -------          ------               ------        -----         ---

    500 kWh          $77.56               $77.79        $0.23         0.3%

    -------          ------               ------        -----         ---

    700 kWh         $141.89              $143.05        $1.16         0.8%

    -------         -------              -------        -----         ---

*System-wide average consumption is about 500 kWh per month. Typical bills are for customers in inland coastal areas of PG&E's service area.

Typical Residential Gas Bill**                                                                  

    Usage     Current        January 1, 2014      Change       Percent

    37 therms         $43.03              $46. 18        $3.15         7.3%

    ---------         ------              -------        -----         ---

** Estimates are based on average gas commodity costs in 2013 and forecast average commodity costs in 2014. Typical usage is higher in winter months and lower in the summer but averages about 37 therms monthly.

 

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