PG&E to Receive $15 Billion Federal Loan for Grid Upgrades

Some consumer advocates are concerned that rates will increase to pay back the infrastructure loan.

PG&E transmission lines cross mountain terrain in Mendocino County in Northern California on Dec. 19. Travis Gillmore/The Epoch Times

California’s largest investor-owned utility company was granted a $15 billion conditional loan guarantee from the U.S. Department of Energy, the federal agency announced Dec. 17.

Pacific Gas and Electric (PG&E) will use the money to upgrade grid technologies and expand battery storage capacity and hydroelectric power generation, among other things meant to help meet demand, improve reliability, and lower rates, according to the Energy Department.