IE Business Daily Business news for the Inland Empire.
San Bernardino County has received $1.3 million from Pacific Gas & Electric Co, part of a $386 million payment in property tax and franchise fees the company made recently to areas in which it does business.
On April 10, the company paid nearly $255 million in property taxes to the 50 counties, enough to cover the first six months of 2020, according to a statement.
It was also scheduled to submit nearly $131 million in franchise fees to cities and counties this week. PG&E pays franchise fees so it can use public streets for its gas and electric operations.
“Property tax and franchise fee payments are one of the important ways PG&E helps drive local economies and supports essential public services like education and public safety,” said Jason Wells, the company’s senior vice president and chief financial officer, in the statement. “This year’s payments reflect the substantial local investments we are making in our gas and electric infrastructure to create a safer and more reliable system and to better mitigate against wildfires.”
Riverside County received no payments from PG&E.
Last year, the company filed the largest utility bankruptcy in U.S. history, having faced nearly $30 billion in damages from wildfires caused by its power lines.
