Electric customers across San Mateo County and in the City of Los Banos are getting a bit more cushion on their power bills, as Peninsula Clean Energy trims the electric generation portion so they continue paying about 10 percent less than they would with PG&E. The agency’s board signed off on the move in late January, and the new rates will start showing up on bills in early February.
Board Locks In 10 Percent Discount
Peninsula Clean Energy’s Board of Directors voted to hold electric generation charges at a level that delivers roughly a 10 percent discount compared with PG&E, the agency said. “In a time of rising energy costs across California, Peninsula Clean Energy continues to deliver what our customers want and deserve: Cleaner electricity at a lower price,” CEO Shawn Marshall said, according to a news release by Peninsula Clean Energy. The City of San Mateo amplified the announcement on its website.
PG&E’s Moves And What Stays The Same
PG&E announced an electric-price decrease that took effect on Jan. 1, and said typical residential electric bills would fall by a few percent, while noting that delivery and certain other fees are separate from generation charges. That split is why the generation supply line for Peninsula Clean Energy appears as its own item on customers’ PG&E bills, according to a press release by PG&E.
How Much Customers Have Saved And What To Expect
Peninsula Clean Energy reports that its discounted generation rates have returned about $225 million to customers since the agency launched in 2016, a figure included in its announcement. The agency notes that the board-approved change will be reflected in bills starting Feb. 1, and points to rebates and electrification incentives aimed at further lowering household energy costs; see the San Mateo rates information from Peninsula Clean Energy.
What To Watch Next
Local customers and elected officials are expected to keep an eye on Peninsula Clean Energy board meetings and upcoming CPUC activity to see whether the agency can sustain the discount as market conditions shift. For now, the decision underscores how locally governed community choice agencies are using their buying power to shield ratepayers from broader swings in energy costs.
