Gino DiCaro

PG&E proposes economic development rate for businesses

By Gino DiCaro, VP, Communications

Capitol Update, March 9, 2012 Share this on FacebookTweet thisEmail this to a friend

Pacific Gas and Electric (PG&E) announced this week that it has petitioned state regulators to establish an Economic Development Rate (EDR) to assist businesses in its service area to create and retain jobs.

According to the company’s press release, the proposed EDR will target large companies with minimum power loads of 200 kilowatts that have a choice of where to locate operations and hire employees.  The proposed rate would provide a 12 percent reduction for five years for those who declare that it is needed to enable them to site new operations, expand existing facilities or stay in California.  In communities with unemployment rates of at least 25 percent higher than the state average, the rate reduction would be more significant – 35 percent for five years.

The new EDR would replace an existing EDR program that PG&E has offered since 2005 but is scheduled to sunset at the end of 2012.  

PG&E’s application to the CPUC can be seen here.

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