SAN FRANCISCO, April 12, 2013 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) said today that it has reached an agreement with a diverse group of consumer and other organizations to enhance its proposed "Green Option" to give electric customers an opportunity to support 100 percent renewable energy. The revised proposal, which has been submitted for approval by the California Public Utilities Commission, would provide participating customers with energy from new small- and mid-sized solar projects located in PG&E's service area.
PG&E's original proposal, issued last year with widespread support from elected officials and the environmental community, provided customers with an option to buy renewable energy certificates from new and existing projects, including those outside PG&E's service area. The new proposal would allow customers to directly support the development of new projects that generate clean energy in and around the communities that PG&E serves.
"We are pleased to have worked with a wide variety of organizations to fashion an enhanced option for our customers," said Helen Burt, Senior Vice President and Chief Customer Officer of PG&E. "PG&E is already one of the largest suppliers of renewable energy in the country. Our proposed new program will enable our customers to voluntarily support additional clean energy projects in communities across Northern and Central California."
PG&E worked closely with The Utility Reform Network (TURN), Coalition of California Utility Employees, the Black Economic Council, National Asian American Coalition, Latino Business Chamber of Greater L.A., and other parties to shape this program.Said Matthew Freedman, Staff Attorney with TURN, "This new program will provide a meaningful opportunity for PG&E customers to link their energy usage to the development of new local renewable energy projects. Every customer subscription will help PG&E to exceed state clean energy requirements and accelerate California's transition away from fossil fuels." (See also other statements of support below.) Under the new plan, participants will pay the full cost of the new renewable energy supplies built in direct response to their enrollment. Those additional supplies—provided under long-term contracts by third-party developers—will be incremental to the clean energy that PG&E already purchases for all of its customers. Participating customers will also receive credits for avoided PG&E generation costs, making the program more affordable. PG&E will actively market the plan throughout its service area, including low-income and minority communities.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts