PG&E recently paid property taxes of more than $172 million to the 49 counties in which it provides service to 16 million Californians. The payment covers the period from July 1 to December 31, 2014. Total payments for the tax year of July 1, 2014 to June 30, 2015 will be $344 million. This is an increase of $27 million over the prior fiscal year.
“Our timely payment of property taxes helps local governments support essential public services for their residents,” said Mark Caron, PG&E’s Vice President of Taxes. “These payments also reflect the substantial ongoing investments in our gas and electric infrastructure that are creating one of the safest and most reliable utility systems in the country.”
The first installment of property taxes paid to Mid-Valley counties were: Colusa, $4,263,749; Sutter, $955,492; and Yuba, $1,003,215. PG&E will make payments for the same amount in April, bringing its annual payments to the three Mid-Valley counties to more than $12.4 million.
One example of the many infrastructure investments PG&E has made locally was the completion of the 42-mile long Palermo-East Nicolaus 115,000-volt transmission line, finished this year. The multi-year project included millions of dollars in upgrades at PG&E substations and replaced an existing electric transmission line so it could carry more clean hydroelectric power.
PG&E invested more than $5 billion this year to enhance and upgrade its gas and electrical infrastructure across Northern and Central California. One such investment is the recently completed $28.5 million state-of-the-art electric distribution control center in Fresno. PG&E expects to open two more control centers in Concord and Rocklin.
An economic impact report issued this year shows that PG&E’s investments, purchases and payroll, in addition to the taxes and fees it pays, help drive California’s economy. PG&E contributed $22.2 billion of economic activity and supported nearly 71,600 jobs in its service area in 2012.