Monterey Bay Community Power deferring half of May and June electric generation charges

MONTEREY COUNTY, Calif. (KION) Monterey Bay Community Power announced that it will be deferring half of May and June electric generation charges due to COVID-19.

MBCP said it decided to defer the payments for all customers in response to hardships caused by the pandemic.

According to MBCP:

• You do not need to do anything to get the cost deferment.
• In total, MBCP is deferring about $22.4 million in charges.
• Deferred costs will be recouped over the next 18 months, but customers are still expected to safe compared to PG&E rates. MBCP said it will decrease its energy programs funding from 4% to 3% of revenue through 2021 and adjust its electric generation rates to 2% below PG&E's from July to December 2020.
• Overall cost savings will continue even after the deferred-cost recoupment period.
• Customers will spend less on electricity in 2020 than if MBCP did nothing.

MBCP said it will also suspend its non-payment policy until further notice.