Customers of the Pacific Gas and Electric Company can expect a significant decrease in their March natural gas bills after distributing a bi-annual credit earlier than usual, announced the company on Thursday.
After three months of unusually high natural gas bills, the California Public Utilities Commission decided to distribute its California Climate Credit a month early. The credit, which comes from the state's emission allowance program, is handed out to California residents every spring and fall.
Alongside the credit distribution, a significant market price drop and lower customer usage as temperatures rise are contributing to a projected 75 percent decrease in customer bills this month, said PG&E.
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The average residential customer bill is expected to be about $37 after the $52.78 climate credit. Last month, the average bill was about $150.
"We supported the California Public Utilities Commission's decision to distribute the statewide Climate Credit earlier than previous years, and we're grateful to pass on that savings to our customers," said Vincent Davis, vice president of PG&E's Customer Operations and Enablement team. "Even with this bill credit, we know that after three months of sustained high natural gas prices, some customers may have difficulty paying their bills, and we're here to help with individualized customer support, including payment plans."