“Property tax and franchise fee payments are one of the important ways PG&E helps drive local economies and support essential public services like education and public safety. This year’s higher payments reflect the substantial local investments we are making in our gas and electric infrastructure to create one of the safest and most reliable energy companies in the nation,” said Jason Wells, senior vice president and chief financial officer for PG&E.
PG&E increased its payment of property taxes sharply this year as the energy company continued to make significant investments in its gas and electric system to support safety and reliability. PG&E received authorization from the bankruptcy court to pay property taxes and franchise fees so this support for local governments and schools would continue uninterrupted.
On April 10, PG&E paid property taxes of over $260 million to the 50 counties in which it owns property. The payment covers the period from January 1 to June 30, 2019. Total payments for the tax year of July 1, 2018 to June 30, 2019 are more than $520 million—an increase of $58 million, or 12 percent, over the prior fiscal year.
Second installment property taxes recently paid to North State counties by April 10 include: Butte, $4,987,397; Colusa, $4,574,544; Glenn, $983,073; Lassen, $41,148; Plumas, $2,729,447; Shasta, $5,937,279; Sutter, $1,366,726; Tehama, $1,364,549; Trinity, $164,017; and Yuba, $1,269,111.
PG&E pays franchise fees to cities and counties for the use of public streets for its gas and electric facilities. The energy company submitted the fees by April 15.
PG&E’s franchise fee payments totaled nearly $129 million – almost $36 million for natural gas and $93 million for electric service. ■