PG&E Sitting on $830 Million in Excess Payments

Source: MSN  |  By Jaxon Van Derbeken

While electricity bills have skyrocketed this year, the market price for the power we’ve been using has been far less than PG&E estimated – creating the potential for some refunds. Each year, the utility predicts what the average price of power will be to establish the rate on your bill. While the actual price was considerably lower than PG&E had estimated this year, customers still pay the higher rate on their bills.

"PG&E s rates now are simply unaffordable," said Matt Freedman, with the Utility Reform Network (TURN). He noted that currently, one out of three low-income families is struggling to pay power bills. "If that amount of money were returned to customers now, it would result in an 8% rate decrease for customers that are served by PG&E," he said.