PG&E says $15 Billion Federal Loan Package can Save Money, but Some are Skeptical

Source: San Jose Mercury News/ Bay Area News Group |  By George Avalos

PG&E said an expected record-setting $15 billion federal loan guarantee will help customers save money on an array of critical projects, but multiple advocacy groups warn that the investor-owned utility’s ratepayers may face higher bills.

Mark Toney, executive director of consumer group The Utility Reform Network, said the difference in financing costs could benefit customers. “We have to make sure PG&E doesn’t just spend the money on their pet projects but spends every dollar on projects that the PUC has determined will provide the greatest public benefit to the ratepayers,” Toney said. “The customers are the ones who are going to have to pay this back.”