PG&E Lowers Electric Prices for Fifth Time Since 2024

Utility expects residential customer prices to be lower overall this year than last year.

Published on Mar. 4, 2026

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Pacific Gas and Electric Company (PG&E) has lowered electric prices five times since January 2024, including a 1.8% decrease in the March bill for residential customers and an 8.3% decrease for those receiving subsidized service. This means typical residential electricity bills will decrease by roughly $5.14 a month for the average customer and by about $10.37 a month for those who are subsidized.

Why it matters

PG&E's repeated price reductions come as a surprise to customers, as national electricity prices are expected to rise. The utility's actions demonstrate its commitment to finding ways to save money and pass those savings on to its customers.

The details

Along with the March price drop, PG&E has reduced electric rates a total of five times since January 2024. Overall, prices are now 13% lower, with the average user paying around $25 less each month. However, PG&E is also seeking a new four-year rate increase beginning in 2027 to cover infrastructure, system upgrading, and wildfire protection, which could potentially raise bills by $144 per year.

  • PG&E lowered electric prices five times since January 2024, including the March 2026 bill.
  • The March 2026 bill reduced residential electric rates by 1.8% compared to February rates and 8.3% for customers in the CARE program.

The players

PG&E Corporation

The Pacific Gas and Electric Company, a subsidiary of PG&E Corporation, is an American investor-owned utility that provides natural gas and electricity to the northern two-thirds of California.

Patti Poppe

The 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 (mymotherlode.com)

What’s next

The California Public Utilities Commission is currently studying PG&E's plan for a new four-year rate increase beginning in 2027, with a final decision expected early next year.

The takeaway

PG&E's repeated price reductions, even as national electricity prices are expected to rise, demonstrate the utility's commitment to finding ways to save money and pass those savings on to its customers. However, the potential for a future rate increase highlights the ongoing balancing act between providing affordable electricity and funding necessary infrastructure and wildfire protection improvements.