California Climate Credit Brings Summer Bill Relief to PG&E Customers

Pacific Gas and Electric Company (NYSE:PCG) will apply two California Climate Credits of $36.18 each to eligible residential electric customers’ August and September 2026 bills, totaling $72.36 in summer relief.

Rhea-AI Summary

Pacific Gas and Electric Company (NYSE:PCG) will apply two California Climate Credits of $36.18 each to eligible residential electric customers’ August and September 2026 bills, totaling $72.36 in summer relief. Eligible small businesses receive $36.18 in April and October.

According to PG&E, credit timing was shifted by the CPUC to high-usage months, and since 2014 PG&E households have received nearly $1,200 each in credits, contributing to about $15.2 billion in statewide Cap-and-Invest benefits.

Positive

• $72.36 summer electric bill credits for residential customers in 2026
• Small businesses receive two $36.18 electric credits, in April and October
• PG&E households have received nearly $1,200 in credits since 2014
• Cap-and-Invest benefits total nearly $15.2 billion statewide
• Electric rates lowered five times since January 2024
• Typical bundled electric bills about $25–$30 less per month than two years ago

Negative

• Customers may still see higher summer bills if energy use increases

News Explained

Separately from the credits, PG&E says its March electric-rate reduction was the fifth since January 2024, leaving typical residential bundled bills about $25 lower monthly than two years ago, or $30 lower for CARE customers; higher summer usage can still raise bills.

Argus Jul 20 session

+0.64% close to close Open Argus

Details

News Market Reaction – PCG

In the Jul 20 session, PCG gained 0.64%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Current risk context classified PCG's short positioning as low. The credit timing change can be weig...

Analysis

Current risk context classified PCG's short positioning as low. The credit timing change can be weighed against that positioning, while recent insider context showed Net Selling as a separate risk factor to monitor.

Key Figures

Residential electric credit: $36.18 Total summer residential credits: $72.36 Small business electric credit: $36.18 +5 more

Residential electric credit

$36.18

August and September billing statements

Total summer residential credits

$72.36

August and September 2026

Small business electric credit

$36.18

April and October credits

Historical household credits

nearly $1,200

Since 2014

Statewide cumulative benefits

nearly $15.2 billion

Cap-and-Invest Program

Electric rate reductions

fifth time

Since January 2024

Bundled bill reduction

$25 less per month

Typical residential monthly usage versus two years ago

CARE bill reduction

$30 less per month

Customers receiving the CARE discount versus two years ago

Historical Context

5 past events · Latest: Jul 14

5 events

1. Jul 14

   PSPS preparation

   24h Move

   +0.4%

   Possible wildfire-related outages were being prepared across portions of ten California counties.

2. Jul 08

   Methane reduction

   24h Move

   -0.8%

   PG&E reported surpassing its 2030 methane reduction goal five years ahead.

3. Jun 25

   Earnings call scheduling

   24h Move

   +1.8%

   PG&E scheduled its second-quarter 2026 earnings release and conference call.

4. Jun 16

   Bill relief program

   24h Move

   +1.0%

   PG&E promoted matching payments and bill credits for qualifying customers.

5. Jun 15

   Customer fraud warning

   24h Move

   -2.2%

   PG&E warned customers about barcode scams and rising utility fraud losses.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

cap-and-invest program

1 terms

cap-and-invest program regulatory

"the state's efforts to cut carbon emissions through the Cap-and-Invest Program"

A cap-and-invest program sets a limit on total greenhouse gas emissions and requires companies to buy permits for the pollution they emit, then uses the money raised to fund clean energy, efficiency, or community projects. Think of it like a household budget for pollution where everyone pays for extra use and the pooled funds pay for upgrades that reduce future costs. Investors watch it because it changes operating costs, creates new markets and subsidies, and signals long-term regulatory trends that affect company valuations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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$72 in Total Residential Electric Credits Applied Across August and September Bills

OAKLAND, Calif., July 20, 2026 /PRNewswire/ -- Over the next two months, millions of residential Pacific Gas and Electric Company (PG&E) customers will see two California Climate Credits automatically applied to their summer energy bills.

Residential households with an active electric account will receive electric credits of $36.18 on their August and September billing statements, providing a total of $72.36 this summer. Eligible small business customers received a $36.18 electric credit in April and will receive the same credit in October.

Last year, the California Legislature directed the California Public Utilities Commission (CPUC) to shift the timing of the credits to higher-usage months to make energy bills more manageable. In April, the CPUC approved changes to the timing of the California Climate Credit. This year, residential electric climate credits are issued during higher-use summer months, while the residential natural gas credit shifts to February beginning in 2027, when winter heating demand is typically highest.

"Adjusting the timing of the electric credits helps families manage seasonal spikes in energy bills while still moving California toward a cleaner, more reliable energy future," said Vincent Davis, Chief Customer Officer and Senior Vice President, Customer Experience.

The California Climate Credit reflects the public's share of the state's efforts to cut carbon emissions through the Cap-and-Invest Program, overseen by the California Air Resources Board. It is distributed by PG&E to customers as directed by the CPUC.

Since 2014, PG&E households have received nearly $1,200 in total in California Climate Credits on their energy bills, totaling nearly $15.2 billion in Cap-and-Invest Program cumulative benefits statewide.

Stabilizing Customer Bills

In March, PG&E lowered electric rates for the fifth time since January 2024. With that decrease, residential customer bundled electric bills based on typical monthly usage are about $25 less per month than two years ago and $30 less per month for customers receiving the CARE discount.

Even though bills are stabilizing, customers may see higher bills during the summer months if they use more energy to cool their homes.

Energy Efficiency Support Programs

Energy efficiency plays an important role in California's clean energy future. Using less energy helps reduce emissions, supports the state's climate goals, and can help customers manage their energy bills. The following programs can help customers save energy and money:

• The Switch Is On: A statewide online resource designed to help homeowners and renters interested in switching from gas to electric appliances by connecting them with available incentives and qualified contractors.
• GoGreen Home Financing: A statewide program which offers affordable financing for energy efficiency upgrades to help homeowners and renters reduce their energy use.

Customers can explore more ways to improve energy efficiency by checking whether they are on the lowest-cost rate plan by using the Rate Comparison tool in their PG&E online account, completing a Home Energy Checkup, signing up for the HomeIntel program and visiting pge.com/summer.

About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than sixteen million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

View original content to download multimedia:https://www.prnewswire.com/news-releases/california-climate-credit-brings-summer-bill-relief-to-pge-customers-302829770.html

SOURCE Pacific Gas and Electric Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What California Climate Credit will PG&E (PCG) residential customers receive in summer 2026?

PG&E residential electric customers will receive two California Climate Credits of $36.18 each on August and September 2026 bills. According to PG&E, this provides $72.36 in total summer bill relief during high-usage months.

When do small business customers of PG&E (PCG) get the California Climate Credit in 2026?

Eligible small business customers receive a $36.18 electric California Climate Credit in April and again in October 2026. According to PG&E, these credits are applied automatically to qualifying small business electric bills.

How much have PG&E (PCG) households received from the California Climate Credit since 2014?

PG&E households have received nearly $1,200 each in California Climate Credits on their energy bills since 2014. According to PG&E, this contributes to about $15.2 billion in cumulative statewide Cap-and-Invest benefits.

How are PG&E (PCG) electric rates and typical bills changing as of July 2026?

In March, PG&E lowered electric rates for the fifth time since January 2024. According to PG&E, typical bundled residential electric bills are about $25 per month lower than two years ago, or $30 lower for CARE discount customers.

Why did the CPUC change the timing of the California Climate Credit for PG&E (PCG) customers?

The California Legislature directed the CPUC to shift California Climate Credit timing to higher-usage months. According to PG&E, residential electric credits now arrive in summer, and residential natural gas credits move to February starting in 2027 to better match seasonal bills.

Can PG&E (PCG) customers still see higher summer bills despite the California Climate Credit?

Yes, customers may still see higher summer bills if they use more energy to cool their homes. According to PG&E, the California Climate Credit and recent rate reductions help, but usage levels remain a key driver of final bill amounts.

What programs does PG&E (PCG) highlight to help manage energy use and bills in summer 2026?

PG&E highlights The Switch Is On and GoGreen Home Financing for electrification and efficiency upgrades. According to PG&E, customers can also use the Rate Comparison tool, Home Energy Checkup, HomeIntel program, and pge.com/summer to manage energy costs.