PG&E's electric rates expected to rise in 2013

January 1, 2013 12:00:00 AM PST
Starting this month, PG&E customers will see an increase in their electric rates, but a drop in their gas rates.

PG&E is raising electric rates partly to cover costs of buying more renewable energy. The rate hike will also cover upgrades to PG&E's huge electric grid.

However, on a better note, gas prices are going down. That's because of a glut of natural gas on the market.

So here's how it all breaks down: PG&E's electric bills for January will go up by an average of 2.6 percent and gas bills will go down by an average of 5.3 percent.