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Coronavirus

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

mbcp deferrment
Monterey Bay Community Power
By
Published 6:28 PM

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.

Article Topic Follows: Coronavirus

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Avery Johnson

Avery Johnson is the Digital Content Director at KION News Channel 5/46.

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