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The PUC, meeting in San Francisco, unanimously approved a total refund of $424.4 million.
PG&E requested the refund be issued to customers after determining its Energy Resource Recovery Account had over-collected from customers because energy costs this year were lower than expected when the commission set rates a year ago.
Customers affected by the inflated rates will receive an average refund of about $35 in the November/December billing cycle, although some customers may receive refunds of hundreds of dollars, PUC officials said.
The refunds are based on usage, and the average Solano County household uses about 560 kilowatt hours per month, PG&E spokesman David Eisenhaur said. This means the average Solano County resident will likely be getting something close to the average $35 credit, he said.
A residential customer using 742 kilowatt hours per month, would get a $64 credit, Eisenhaur said. Someone using 1,500 kilowatt hours would see a $249 credit, he added.
"There will be about three million total customers (getting refunds) in PG&E's service area -- from Bakersfield to Eureka," Eisenhaur said. "Exceptions will be for those with really low usage and care customers -- those in our low-income
program."
Though such credits usually are spread over several months, the utility chose to refund it all at once this time as an early holiday gift, he said.
"These are tough economic times for our customers and this is one way we can give them some relief as the winter heating and holiday seasons approach," Eisenhaur said.
The PUC sets electricity rates for PG&E. Because energy prices continue to be low, the commission said it will establish the expected cost for next year at a level that will ensure the company collects no more than the total needed to pay for the electricity.
Bay City News Service contributed to this report.
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