PG&E Could Receive $15 Billion in Federal Loans for Power Lines, Hydroelectric Power
Source: KGO, ABC 7 | By Suzanne Phan
PG&E could be getting a record $15 billion loan from the U.S. government. The money will be used to help modernize PG&E's power grid. The conditional low-interest loan is supposed to help pay for a number of costly energy projects. Supporters say the loan could end up saving PG&E bill payers a lot of money in the long run.
Mark Toney is Executive Director with TURN, The Utility Reform Network. "This loan allows PG&E to make needed investments in wildfire safety in expanding the grid to serve more customers," said Toney. PG&E says the money could also be invested into lowering costs for its customers. Toney questions that. "We believe that reducing ratepayer bills is a high priority," said Toney. "PG&E has had four rate increases that went into effect in 2024 and there are two more rate increases on this Thursday's Public Utility Commission agenda.” TURN says the loan overall is a win for California.
