San Francisco - The California Public Utilities Commission (CPUC) Thursday approved a refund of hundreds of millions of dollars after Pacific Gas & Electric admitted to over-collecting from their customers. PG&E says it raised rates last year in anticipation of higher wholesale electricity costs. Since PG&E profits are governed by CPUC, the mammoth utility company was ordered to give the profits back. Customers can expect to receive a distributed refund of $424.4 million. Refunds will be issued in the form of a one-time bill credit during the November/December 2009 billing cycle, said CPUC. “Today's order ensures that the customers who paid the extra costs will now receive that money back in the form of a credit on their bills,” the utility regulator said in a release. “Furthermore, since energy prices continue to be low, the CPUC will establish PG&E’s expected cost of electricity for next year at a level that ensures that customer bills will continue to collect no more than these costs on a going-forward basis,” said the release. CPUC President Michael R. Peevey said “some residential electric customers of PG&E may see a credit as high as a couple of hundred dollars while the average is expected to be approximately $35.” According to the State of California website, “the California Public Utilities Commission serves the public interest by protecting consumers and ensuring the provision of safe, reliable utility service.” PG&E provides natural gas and electricity to most of the northern two-thirds of California, from the Oregon border to Bakersfield, including here in Amador County. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.