A Payback From PG&E
AP
We shell out hundreds every month to the Pacific Gas & Electric Company every month to keep the power on and now we may be getting some of that money back from the utility company.
The California Public Utilities Commission on Thursday agreed that PG&E has been overcharging customers and unanimously approved a refund of $424.4 million to its customers.
Customers affected by the inflated rates will receive an average refund of about $35 in the November/December billing cycle, although some customers may receive refunds of hundreds of dollars, commission officials said.
The CPUC sets electricity rates for PG&E, and because energy prices continue to be low, the commission said it will establish the expected cost for next year at a level that will ensure that the company will collect no more than the total needed to pay for the electricity.
Bay City News contributed to this report.
Posted Friday, Oct 16, 2009 - 1:35 PM PST
