Pacific Gas & Electric (PG&E) filed for protection today under Chapter 11 of the US Bankruptcy Code. What will that mean for Valley Clean Energy customers? Probably very little—it’s likely you won’t notice any difference at all in your electricity service.
As our local electricity provider, Valley Clean Energy (VCE) was formed specifically to promote a healthier climate while keeping the best interests of its customers in mind. We source clean, competitively priced electricity and feed it into the grid, and PG&E provides transmission, maintenance, service and billing for our customers. Revenues from the program stay right here at home, supporting our local communities, rather than paying PG&E shareholders. With VCE, communities are working together towards a healthier climate.
“VCE ratepayers can rest assured that their energy needs will continue to be cared for by their own board of local elected officials,” said Board Chair Tom Stallard, who also serves on the Woodland City Council. “PG&E has stated on the record that they expect to continue providing electric and natural gas service to customers, and working with CCAs to provide transmission, billing and remittance services as one of their highest priorities,” Stallard continued.
VCE is coordinating its efforts with other Community Choice Aggregators (CCAs) and with PG&E to address the potential impacts this filing may have on CCA programs in PG&E territory. There are 12 CCAs in PG&E service areas, representing approximately 2.4 million accounts.
What else do we know so far? PG&E has filed a “first day” motion seeking approval from the Bankruptcy Court to continue collecting revenues and passing them through to CCAs, as part of the normal course of business. VCE supports this motion—as do the other CCAs in PG&E territory—and fully expects the Court to approve it.