PUC’s Move to Result in Lower Customer Bills

Customer bills will decline slightly thanks to a state Public Utilities Commission decision to reduce the return on equity that San Diego Gas & Electric, a subsidiary of Sempra Energy, and PG&E; Corp.’s Pacific Gas & Electric are allowed to earn for 1999. SDG&E;’s return on equity was cut to 10.6% from 11.6%, reducing revenue requirements by $19.4 million. PG&E;’s return on equity was reduced to 10.6% from 11.2%, reducing revenue requirements by $61.4 million. The PUC cited lower interest rates in reducing the return.