PG&E Lowers Electric Prices for Fifth Time Since 2024

Company expects residential customer prices to be lower overall in 2026 than in 2025.

Published on Mar. 2, 2026

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Pacific Gas and Electric Company (PG&E) has lowered electric rates for the fifth time since January 2024, with residential bundled electric rates now 13% lower than in 2024. PG&E expects typical residential electric rates to be lower overall in 2026 than in 2025 as part of the company's ongoing effort to stabilize energy prices for customers.

Why it matters

PG&E's electric price reductions come as the U.S. Energy Information Administration expects national electric prices to rise by nearly 10% between 2024 and 2026, highlighting PG&E's commitment to managing energy costs for its customers.

The details

The latest electric rate decrease on March 1, 2026 was 1.8% for residential customers who get both electricity supply and delivery service from PG&E. Electric rates decreased about 8.3% for customers who receive the California Alternate Rates for Energy (CARE) income-eligible discount. The rate decrease is due to the costs for completed safety and reliability work exceeding the costs for new investments authorized by PG&E's regulators.

  • PG&E has lowered electric rates five times since January 2024.
  • The latest electric rate decrease took effect on March 1, 2026.

The players

Pacific Gas and Electric Company (PG&E)

A utility company that provides natural gas and electricity to customers in Northern and Central California.

Patti Poppe

CEO of PG&E Corporation.

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What they’re saying

“We are delivering on our promise to lower prices for our customers again, even as national prices are expected to rise. Our actions match our promises: we've reduced electric rates five times since January 2024 and remain committed to finding new ways to save and pass those savings on to our customers.”

— Patti Poppe, CEO, PG&E Corporation (PRNewswire)

What’s next

The new Base Services Charge, which lowers the price of electricity for all residential customers, will debut on customers' March 2026 bills.

The takeaway

PG&E's consistent electric rate reductions, even as national prices are expected to rise, demonstrate the company's commitment to managing energy costs and providing affordable electricity to its customers.