PG&E Expects Lower Residential Electric Rates in 2026 Compared to 2025
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy PCG?
Source: PRnewswire
- Continuous Price Reductions: On March 1, 2026, PG&E reduced residential electric rates by 1.8%, marking the fifth decrease since January 2024, resulting in a 13% reduction from January 2024, with typical residential bills decreasing by about $25 per month, demonstrating the company's commitment to managing energy costs for customers.
- CARE Customer Discounts: For customers enrolled in the California Alternate Rates for Energy (CARE) program, rates decreased by approximately 8.3%, leading to a monthly bill reduction of about $10.37, further alleviating financial burdens on low-income households and reflecting PG&E's efforts in social responsibility.
- New Billing Structure: The newly implemented Base Services Charge enhances bill clarity and transparency, with a typical charge of about $24 per month that does not increase PG&E's revenue, aimed at reducing costs for low-income customers and facilitating the transition to cleaner electric appliances, aligning with California's policy direction.
- Slight Natural Gas Price Increase: Concurrently, PG&E's natural gas rates increased by 0.3% on March 1, 2026, resulting in a typical residential gas bill increase of about $0.24 per month, reflecting the recovery of costs for safety and emergency response work, indicating the company's ongoing focus on energy supply stability.
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Analyst Views on PCG
Wall Street analysts forecast PCG stock price to rise
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 19.000
Low
18.00
Averages
21.36
High
25.00
Current: 19.000
Low
18.00
Averages
21.36
High
25.00
About PCG
PG&E Corporation is a holding company. The Company's primary operating subsidiary is Pacific Gas and Electric Company (the Utility), a public utility operating in Northern and Central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electric transmission and distribution services throughout its service area in northern and central California to residential, commercial, industrial, and agricultural customers. The Utility provides electricity, transmission, and distribution services in its service area. The Utility owns approximately 18,000 circuit miles of interconnected transmission lines operating at voltages ranging from 60 kilovolts (kV) to 500 kV. The Utility also operates 33 electric transmission substations with a capacity of approximately 67,000 megavolt amperes (MVA). Customers can also obtain electricity from alternative providers such as municipalities (CCAs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PG&E Expects Lower Residential Electric Rates in 2026 Compared to 2025
- Continuous Rate Reductions: Pacific Gas and Electric Company (PG&E) has lowered residential electric rates by 1.8% on March 1, 2026, marking the fifth reduction since January 2024, reinforcing the company's commitment to reducing energy costs for customers, with expectations that overall rates in 2026 will be lower than in 2025.
- Customer Bill Relief: Since January 2024, residential electric rates have decreased by 13%, resulting in typical customer bills being about $25 lower per month, with CARE program participants seeing reductions of approximately $10.37 monthly, significantly easing household financial burdens.
- New Billing Structure Implementation: The introduction of the Base Services Charge enhances bill transparency and lowers electricity prices for all residential customers without increasing PG&E's revenue, aligning with California Public Utilities Commission directives to facilitate affordable transitions to clean-powered appliances for low-income customers.
- Slight Increase in Natural Gas Rates: Despite the decrease in electric rates, PG&E's natural gas rates increased by 0.3% on March 1, 2026, leading to a typical residential bill increase of about $0.24 per month, reflecting the recovery of authorized costs for safety and emergency response work, demonstrating the company's ongoing commitment to safety investments.
See More
PG&E Expects Lower Residential Electric Rates in 2026 Compared to 2025
- Continuous Price Reductions: On March 1, 2026, PG&E reduced residential electric rates by 1.8%, marking the fifth decrease since January 2024, resulting in a 13% reduction from January 2024, with typical residential bills decreasing by about $25 per month, demonstrating the company's commitment to managing energy costs for customers.
- CARE Customer Discounts: For customers enrolled in the California Alternate Rates for Energy (CARE) program, rates decreased by approximately 8.3%, leading to a monthly bill reduction of about $10.37, further alleviating financial burdens on low-income households and reflecting PG&E's efforts in social responsibility.
- New Billing Structure: The newly implemented Base Services Charge enhances bill clarity and transparency, with a typical charge of about $24 per month that does not increase PG&E's revenue, aimed at reducing costs for low-income customers and facilitating the transition to cleaner electric appliances, aligning with California's policy direction.
- Slight Natural Gas Price Increase: Concurrently, PG&E's natural gas rates increased by 0.3% on March 1, 2026, resulting in a typical residential gas bill increase of about $0.24 per month, reflecting the recovery of costs for safety and emergency response work, indicating the company's ongoing focus on energy supply stability.
See More
PG&E Customers Lost Over $300,000 to Scammers in 2025
- Significant Scam Losses: In 2025, PG&E customers reported losses of approximately $301,000 due to scams, with an average loss of $590 per customer, highlighting the widespread nature of these fraudulent activities and their direct threat to customer finances.
- Evolving Scam Tactics: PG&E noted an increase in reports of door-to-door scams, where imposters ask to see utility bills, indicating that scammers are adapting their methods to exploit new vulnerabilities in customer awareness.
- Targeting Business Customers: PG&E received nearly 850 reports of scam attempts aimed at small and medium-sized businesses in 2025, with scammers exploiting the urgency of business owners to maintain operations, thereby increasing operational risks for these enterprises.
- Customer Protection Measures: PG&E advises customers against using prepaid cards for bill payments and emphasizes that the company will never issue notifications within one hour of service interruption, urging customers to verify any suspicious requests through official channels to safeguard their financial security.
See More
PG&E Customers Lost Over $300,000 to Scammers in 2025
- Significant Scam Losses: In 2025, PG&E customers reported losses of approximately $301,000 due to scams, with an average loss of $590 per customer, highlighting the widespread nature and severity of these scams, necessitating enhanced customer education to prevent such incidents.
- Diversified Scam Tactics: PG&E noted an increase in reports of scammers impersonating company employees at customers' doors asking to see their bills, indicating that fraudsters are adopting new strategies to deceive customers, thereby increasing potential risks.
- Business Customers Targeted: PG&E received nearly 850 reports of scam attempts aimed at small and medium-sized businesses in 2025, with scammers exploiting busy business hours to pressure owners into making hasty decisions, adversely affecting normal operations.
- Customer Protection Measures: PG&E advises customers against making payments via prepaid cards and emphasizes that the company will not issue notifications within one hour of service interruptions, urging customers to verify any suspicious requests through official channels to safeguard their financial security.
See More
PG&E Customers Lose Over $300,000 to Scammers
- Customer Loss Overview: In 2025, PG&E received nearly 24,000 reports from customers, resulting in approximately $301,000 in losses, with an average loss of $590 per customer, highlighting the severity and prevalence of scam activities.
- Evolving Scam Tactics: Scammers threaten customers with immediate payment demands to avoid disconnection, and there has been a recent increase in reports of imposters visiting homes to request utility bills, indicating a shift in tactics that poses greater risks to customers.
- Business Customer Victimization: PG&E recorded nearly 850 scam reports targeting small and medium-sized businesses in 2025, with scammers exploiting busy hours to pressure business owners into making hasty decisions, adversely affecting their operations.
- Preventive Measures Advice: PG&E advises customers against purchasing prepaid cards to avoid service disconnection, urging them to verify billing information through official channels and report suspicious encounters to law enforcement to protect their rights.
See More
Morgan Stanley Raises PG&E Price Target to $23 Amid Q4 Preview
- Price Target Increase: On February 20, Morgan Stanley raised PG&E's price target from $21 to $23 while maintaining an Equal Weight rating, indicating a cautiously optimistic outlook for the stock's future performance.
- Earnings Preview: Ahead of the upcoming Q4 2025 earnings report, Morgan Stanley anticipates a balanced discussion regarding data center pipelines, reflecting higher affordability and political concerns that may impact investor confidence.
- Performance Comparison: PG&E reported GAAP earnings of $0.29 per share for Q4 2025, slightly down from $0.30 in 2024, while non-GAAP core earnings increased to $0.36 per share, indicating a modest improvement in profitability.
- Industry Performance: Despite PG&E's relatively strong performance in the utility sector, overall utility stocks underperformed the S&P 500 this month, reflecting a cautious market sentiment towards the industry.
See More
PG&E Expects Lower Residential Electric Rates in 2026 Compared to 2025
- Continuous Rate Reductions: Pacific Gas and Electric Company (PG&E) has lowered residential electric rates by 1.8% on March 1, 2026, marking the fifth reduction since January 2024, reinforcing the company's commitment to reducing energy costs for customers, with expectations that overall rates in 2026 will be lower than in 2025.
- Customer Bill Relief: Since January 2024, residential electric rates have decreased by 13%, resulting in typical customer bills being about $25 lower per month, with CARE program participants seeing reductions of approximately $10.37 monthly, significantly easing household financial burdens.
- New Billing Structure Implementation: The introduction of the Base Services Charge enhances bill transparency and lowers electricity prices for all residential customers without increasing PG&E's revenue, aligning with California Public Utilities Commission directives to facilitate affordable transitions to clean-powered appliances for low-income customers.
- Slight Increase in Natural Gas Rates: Despite the decrease in electric rates, PG&E's natural gas rates increased by 0.3% on March 1, 2026, leading to a typical residential bill increase of about $0.24 per month, reflecting the recovery of authorized costs for safety and emergency response work, demonstrating the company's ongoing commitment to safety investments.
See More
PG&E Expects Lower Residential Electric Rates in 2026 Compared to 2025
- Continuous Price Reductions: On March 1, 2026, PG&E reduced residential electric rates by 1.8%, marking the fifth decrease since January 2024, resulting in a 13% reduction from January 2024, with typical residential bills decreasing by about $25 per month, demonstrating the company's commitment to managing energy costs for customers.
- CARE Customer Discounts: For customers enrolled in the California Alternate Rates for Energy (CARE) program, rates decreased by approximately 8.3%, leading to a monthly bill reduction of about $10.37, further alleviating financial burdens on low-income households and reflecting PG&E's efforts in social responsibility.
- New Billing Structure: The newly implemented Base Services Charge enhances bill clarity and transparency, with a typical charge of about $24 per month that does not increase PG&E's revenue, aimed at reducing costs for low-income customers and facilitating the transition to cleaner electric appliances, aligning with California's policy direction.
- Slight Natural Gas Price Increase: Concurrently, PG&E's natural gas rates increased by 0.3% on March 1, 2026, resulting in a typical residential gas bill increase of about $0.24 per month, reflecting the recovery of costs for safety and emergency response work, indicating the company's ongoing focus on energy supply stability.
See More
PG&E Customers Lost Over $300,000 to Scammers in 2025
- Significant Scam Losses: In 2025, PG&E customers reported losses of approximately $301,000 due to scams, with an average loss of $590 per customer, highlighting the widespread nature of these fraudulent activities and their direct threat to customer finances.
- Evolving Scam Tactics: PG&E noted an increase in reports of door-to-door scams, where imposters ask to see utility bills, indicating that scammers are adapting their methods to exploit new vulnerabilities in customer awareness.
- Targeting Business Customers: PG&E received nearly 850 reports of scam attempts aimed at small and medium-sized businesses in 2025, with scammers exploiting the urgency of business owners to maintain operations, thereby increasing operational risks for these enterprises.
- Customer Protection Measures: PG&E advises customers against using prepaid cards for bill payments and emphasizes that the company will never issue notifications within one hour of service interruption, urging customers to verify any suspicious requests through official channels to safeguard their financial security.
See More
PG&E Customers Lost Over $300,000 to Scammers in 2025
- Significant Scam Losses: In 2025, PG&E customers reported losses of approximately $301,000 due to scams, with an average loss of $590 per customer, highlighting the widespread nature and severity of these scams, necessitating enhanced customer education to prevent such incidents.
- Diversified Scam Tactics: PG&E noted an increase in reports of scammers impersonating company employees at customers' doors asking to see their bills, indicating that fraudsters are adopting new strategies to deceive customers, thereby increasing potential risks.
- Business Customers Targeted: PG&E received nearly 850 reports of scam attempts aimed at small and medium-sized businesses in 2025, with scammers exploiting busy business hours to pressure owners into making hasty decisions, adversely affecting normal operations.
- Customer Protection Measures: PG&E advises customers against making payments via prepaid cards and emphasizes that the company will not issue notifications within one hour of service interruptions, urging customers to verify any suspicious requests through official channels to safeguard their financial security.
See More
PG&E Customers Lose Over $300,000 to Scammers
- Customer Loss Overview: In 2025, PG&E received nearly 24,000 reports from customers, resulting in approximately $301,000 in losses, with an average loss of $590 per customer, highlighting the severity and prevalence of scam activities.
- Evolving Scam Tactics: Scammers threaten customers with immediate payment demands to avoid disconnection, and there has been a recent increase in reports of imposters visiting homes to request utility bills, indicating a shift in tactics that poses greater risks to customers.
- Business Customer Victimization: PG&E recorded nearly 850 scam reports targeting small and medium-sized businesses in 2025, with scammers exploiting busy hours to pressure business owners into making hasty decisions, adversely affecting their operations.
- Preventive Measures Advice: PG&E advises customers against purchasing prepaid cards to avoid service disconnection, urging them to verify billing information through official channels and report suspicious encounters to law enforcement to protect their rights.
See More
Morgan Stanley Raises PG&E Price Target to $23 Amid Q4 Preview
- Price Target Increase: On February 20, Morgan Stanley raised PG&E's price target from $21 to $23 while maintaining an Equal Weight rating, indicating a cautiously optimistic outlook for the stock's future performance.
- Earnings Preview: Ahead of the upcoming Q4 2025 earnings report, Morgan Stanley anticipates a balanced discussion regarding data center pipelines, reflecting higher affordability and political concerns that may impact investor confidence.
- Performance Comparison: PG&E reported GAAP earnings of $0.29 per share for Q4 2025, slightly down from $0.30 in 2024, while non-GAAP core earnings increased to $0.36 per share, indicating a modest improvement in profitability.
- Industry Performance: Despite PG&E's relatively strong performance in the utility sector, overall utility stocks underperformed the S&P 500 this month, reflecting a cautious market sentiment towards the industry.
See More
