PG&E Customers to Receive Over $55 Million in Bill Credits Through New Incentive Program

On February 15, 2023, Pacific Gas and Electric Company (PG&E) announced its Power Saver Rewards Program, which will provide over $55 million in bill credits to customers for reducing energy use during peak demand.

Rhea-AI Summary

On February 15, 2023, Pacific Gas and Electric Company (PG&E) announced its Power Saver Rewards Program, which will provide over $55 million in bill credits to customers for reducing energy use during peak demand. This initiative, a response to high natural gas prices, successfully prevented power outages during extreme temperatures in summer 2022. More than 1.6 million customers are currently enrolled, receiving an average credit of $35 for participation. Customers earn $2 per kilowatt hour (kWh) for decreasing energy usage, with no penalties for non-participation.

Positive

• Over $55 million in bill credits for customers, enhancing customer loyalty.
• More than 1.6 million customers enrolled, indicating strong participation.
• Successful energy conservation efforts prevented power outages during peak demand.

Negative

• None.

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Participating Customers Rewarded for Reducing Energy Use and Strain on the Grid Last Summer

OAKLAND, Calif., Feb. 15, 2023 /PRNewswire/ -- At a time when higher natural gas prices are driving up energy costs, the new Power Saver Rewards Program is providing over $55 million in bill credits to participating Pacific Gas and Electric Company (PG&E) customers. PG&E thanks its customers for their significant conservation efforts, which helped avert rotating power outages during extended periods of record-setting temperatures in the summer of 2022. 

Power Saver Rewards Program rewards residential participants for temporarily reducing energy use when the demand for electricity is high. Event days are triggered by the state's grid operator, the California Independent System Operator, calling a Flex Alert and/or an Energy Emergency Alert Watch. Notifications to customers to reduce energy use as part of the program are sent out the day before an event. Over the ten event days in 2022, the average customer bill credit for program participants was $35.

Currently more than 1.6 million customers are enrolled in the program. Customers who reduced energy use between 4 p.m. and 9 p.m. on event days will receive a bill credit on their February or March energy statement, depending on their billing cycle. The credit will be automatically applied; customers do not need to contact PG&E. Customers receive $2 per kilowatt hour (kWh)¹ for decreasing electricity use during events. There is no penalty for not reducing energy.

"This new program is a win-win for our customers and the response was overwhelming. The financial reward for taking action not only lessened the demand on the grid, but it also ensured continued reliability and cleaner air," said Aaron August, PG&E Vice President of Utility Partnerships and Innovation.

The program, initiated by the California Public Utilities Commission, encourages energy conservation to lessen the overall strain on the grid and prevent the need for rotating outages. Customers successfully shifted energy usage away from the times of peak demand on event days. During peak hours, customers temporarily reduced usage by taking actions such as turning their thermostat to 78 degrees or higher (health permitting), turning off lights not in use, unplugging electric vehicles, and waiting until after peak hours to use large appliances such as washers, dryers and electric ovens.

PG&E electric customers with a SmartMeter not enrolled in a conflicting peak hour program are eligible to participate. Most customers enrolled in a Community Choice Aggregator can also join. Customers can disenroll from the program at any time through the program website.

It's easy to enroll and get rewarded for reducing energy use next summer. Plan ahead by visiting powersaver.pge.com to learn more and sign up.

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 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

1 A kWh is a measure of how much electricity is used. One kWh equals the amount of energy consumed if a 1,000-watt appliance is used for an hour.

 

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SOURCE Pacific Gas and Electric Company

FAQ

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

What is the Power Saver Rewards Program by PG&E?

The Power Saver Rewards Program is an initiative by PG&E that rewards customers for reducing energy use during periods of high demand, aimed at preventing power outages.

How much will PG&E customers receive through the Power Saver Rewards Program?

PG&E customers will receive over $55 million in total bill credits through the Power Saver Rewards Program.

How many customers are enrolled in PG&E's Power Saver Rewards Program?

Currently, more than 1.6 million customers are enrolled in PG&E's Power Saver Rewards Program.

What are the benefits of participating in PG&E's Power Saver Rewards Program?

Participants can receive bill credits averaging $35 for reducing energy use during peak demand, earning $2 per kilowatt hour reduced.

When will customers see the bill credits from PG&E's Power Saver Rewards Program?

Customers will receive the bill credits on their February or March energy statement, depending on their billing cycle.