OAKLAND, Calif.—Pacific Gas and Electric Company (PG&E) 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.
PG&E recently paid property taxes of more than $172 million to the 49 counties in which it provides service to 16 million Californians. The payment covers the period from July 1 to December 31, 2014. Total payments for the tax year of July 1, 2014 to June 30, 2015 will be $344 million. This is an increase of $27 million – or a nine percent increase – over the prior fiscal year.
“Our timely payment of property taxes helps local governments support essential public services for their residents,” said Mark Caron, PG&E’s Vice President of Taxes. “These payments also reflect the substantial ongoing investments in our gas and electric infrastructure that are creating one of the safest and most reliable utility systems in the country.”
Property taxes paid to East Bay counties include Alameda County, $17,391,238 (up 12 percent from a year ago) and Contra Costa County, $14,777,571 (up 10 percent).
One example of the many infrastructure investments PG&E made locally was the completion of upgrades to an electric substation in Oakland. The multi-year, $19 million project improved electric reliability for thousands of customers in Oakland and Berkeley, including the new Kaiser Permanente hospital.
PG&E invested more than $5 billion this year to enhance and upgrade its gas and electrical infrastructure across Northern and Central California. One such investment is the recently completed $28.5 million state-of-the-art electric distribution control center in Fresno. PG&E expects to open two more control centers in Concord and Rocklin.
An economic impact report issued this year shows that PG&E’s investments, purchases and payroll, in addition to the taxes and fees it pays, help drive California’s economy. PG&E contributed $22.2 billion of economic activity and supported nearly 71,600 jobs in its service area in 2012.
