SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) paid property taxes of more than $205 million this fall to the 50 counties where the utility owns property and operates gas and electric infrastructure that serves 16 million Californians.
The semi-annual property tax payments recently made cover the period from July 1 to December 31, 2016.
Total payments for the full tax year of July 1, 2016 to June 30, 2017 is estimated to total more than $410 million—an increase of $25 million, or 6.5 percent, compared with the prior fiscal year.
“Property tax payments are one of the many important ways PG&E helps drive local economies and support essential public services like education and public safety. This year’s higher payments reflect the substantial local investments we are making in our gas and electric infrastructure to create one of the safest and most reliable utility systems in the country,” said Jason Wells, senior vice president and chief financial officer for PG&E.
PG&E invested more than $5.5 billion last year and expects to invest $5.6 billion this year to enhance and upgrade its gas and electrical infrastructure across Northern and Central California.
Other recent investments include the $36 million state-of-the-art electric control center in Rocklin that opened early this year. PG&E completed a $40 million control center in Concord last year and in 2014 opened a $28.5 million control center in Fresno. Together, these three centers provide coverage to all of PG&E’s electric distribution system. PG&E is also constructing a $75 million gas operations technical training center in Winters in Yolo County.
PG&E supports the communities it serves in a variety of ways. Last year PG&E provided more than $25 million in community grants and investments to enrich local educational opportunities, preserve the environment, and support economic vitality and emergency preparedness. PG&E employees provide thousands of hours of volunteer service in their local communities. The company also offers a broad spectrum of economic development services to help local businesses grow.
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit www.pge.com/ and pge.com/news.
PG&E’s Fiscal Year 2016/2017 First Installment of Property Taxes
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