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Majority Of PG&E Customers Can Expect Refunds

Sonora, CA – PG&E customers should not be surprised if next month’s bill is a little bit less expensive.

Company spokesperson David Eisenhauer says a majority of customers (three million) will receive a one time rebate because of lower than expected natural gas prices.

“Every year we set our rates based on market forecasts,” says Eisenhauer. “We set the 2009 electric rates based on 2008 market forwards. Since that time, natural gas prices have dropped significantly and so we’ve over collected.”

PG&E says it is not related to the recent switchover to “Smart Meters.” The average residential electric customer will receive a rebate of around $35 during the November/December billing cycle.

Written by bjhansen@mlode.com.