– PG&E filed for approval of a transmission lease program with Citizens Energy Corporation, potentially investing up to $1 billion.
– The program aims to improve safety, reliability, and capacity of PG&E’s electric system, while supporting clean energy projects in low-income communities.
– Citizens will lease PG&E’s transmission assets for 30 years, with profits going towards clean energy programs and benefiting vulnerable communities.
PG&E has filed for approval of a transmission lease program with Citizens Energy Corporation, aiming to invest up to $1 billion in improving safety, reliability, and infrastructure health of the electric system. Citizens plans to contribute profits from the program to clean energy projects in low-income communities. The program is designed to ensure customers do not pay more for transmission assets.
CEO Patti Poppe expressed PG&E’s commitment to benefiting all Californians through innovative energy solutions. President Joseph P. Kennedy III highlighted the program’s goal of creating a clean energy system that is equitable and just for all communities, with a focus on increasing grid strength and reducing costs.
The program involves Citizens leasing entitlements to PG&E electric transmission assets for 30 years, with an upfront payment and recovery of costs through transmission charges. Regulatory approval from CPUC and FERC is necessary for the program to proceed. Similar successful programs have been implemented by Citizens with SDG&E, benefiting both the utility and the community.