PG&E Offers Loan Deferral Program for Customers with Active Utility Loans for Up to 6 Months
FRANCISCO, Calif.— Pacific Gas and Electric Company
(PG&E) is offering additional support for business customers experiencing
financial hardship as a result of the COVID-19 pandemic by offering temporary
loan deferrals for customers with an active On-Bill Financing (OBF) loan under
PG&E’s Energy Efficiency Financing program.
To help business customers, payments on the 0% interest loans can now be deferred for up to six months. These no interest loans allow business customers to replace old and worn-out equipment with energy efficient models.
“It’s important that our commercial customers, especially small and medium businesses, know about all the programs that we have to help them through these trying times. We want our business customers and the communities they are serving to know we are here to help and work together to begin restoring the state and local economies.” said Laurie Giammona, PG&E Senior Vice President and Chief Customer Officer.
On-Bill Financing customers who request deferment will see a reduction in their monthly OBF loan repayment to $0.01 during the 6-month deferral period. The loan repayment schedule will be extended by 6-months, so the full amount is repaid. PG&E has loaned more than $200 million to business customers through the program.
Other Ongoing PG&E Customer Support and Programs
Some of the changes PG&E has made related to supporting our business customers include:
- Billing and service modifications: PG&E is suspending service disconnection for non-payment and waiving new service deposit requirements for small business customers.
- Leveraging virtual communication: PG&E is leveraging virtual meetings, interactions, and verifications using digital technologies to finalize applicable projects.
- Rescheduling site visits: Site visits will get rescheduled once in-person program components resume.
- Completing incentive payments: Completed projects are being processed for incentive payments if the documentation is submitted electronically.
- Processing applications: Rebate applications, On-Bill Financing applications and loans, and incentives will continue to be processed as submitted.
Small business customers with questions about an ongoing or upcoming project are encouraged to reach out to their account manager or PG&E’s Business Customer Service at 1-800-468-4743 . Business customers with an active OBF loan can apply for a deferral for up to six months online: www.pge.com/deferral
more information, please visit www.pge.com/support to read more about PG&E’s response
to the virus.
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.