Pacific Gas and Electric Company (NYSE:PCG) continues efforts at correcting that perception by trying to strengthen its community.
In an effort to support even more customers in paying their energy bills, PG&E has contributed $55 million to support the Dollar Energy Fund, marking an unprecedented expansion of the Relief for Energy Assistance through Community Help (REACH) program. The REACH program helps income-eligible families pay their energy bill during a crisis, by providing a bill credit for qualifying customers with unpaid balances to prevent service disconnections.
The infusion of $55 million will be implemented in two phases, starting in January 2024. In the first phase, approximately half of the funding will double the maximum amount of financial relief available to California Alternate Rates for Energy (CARE) enrolled or eligible households from up to $500 to up to $1,000. The temporary shift from traditional REACH assistance guidelines is part of PG&E’s commitment to providing tangible relief for more qualifying customers across its service area.
“This time of year, our customers rely more heavily on energy to heat their homes, which can significantly impact household finances. This historic assistance marks PG&E’s largest contribution to the REACH program, reinforcing our support for customers when they need it most,” said Vincent Davis, Senior Vice President, Customer Experience.
PCG shares closed Friday at $18.05.