BAKERSFIELD, Calif. -- Senate Majority Leader Dean Florez announced Thursday of a pending $424 million overcharge refund for Pacific Gas and Electric customers, according to Jennifer Hanson, press secretary for Florez.

It was announced at an October 5 Bakersfield hearing into Smart Meters and that PG&E was sitting on more than $400 million in overcharges due to an overestimation of energy prices, according to Hanson.

PUC Letter

PG&E pledged at the hearing to do their part to gain approval of a refund plan for consumers, and California Public Utilities Commission Commissioner, Rachelle Chong, said in Thursday’s announcement that her agency would direct PG&E to provide “an immediate refund to its customers.”

Florez was told Wednesday that the CPUC will order independent testing on the reliability of Smart Meters, which have been blamed for a dramatic spike in local utility bills.

The CPUC, however, did not place a moratorium on additional Smart Meter installations or rate increases pending the outcome of such testing.

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