PUC Approves $424M Refund For PG&E Customers

POSTED: 12:49 pm PDT October 15, 2009
UPDATED: 12:52 pm PDT October 15, 2009

BAKERSFIELD, Calif. -- Senate Majority Leader Dean Florez announced Thursday of a pending $424 million overcharge refund for PG&E customers, according to a press release.

It was announced at an October 5 Bakersfield hearing into Smart Meters and that PG&E was sitting on more than $400 million in overcharges due to an overestimation of energy prices, according to the release.

PG&E pledged at the hearing to do their part to gain approval of a refund plan for consumers, and CPUC Commissioner Rachelle Chong said in today’s announcement that her agency would direct PG&E to provide “an immediate refund to its customers.”

Florez was told Wednesday that the CPUC will order independent testing on the reliability of Smart Meters, which have been blamed for a dramatic spike in local utility bills.

The CPUC, however, did not place a moratorium on additional Smart Meter installations or rate increases pending the outcome of such testing.

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