For the second year in succession while still embedded in Chapter 11 bankruptcy proceedings, Pacific Gas and Electric Co. announced Tuesday it has doled out $75 million in local property tax payments to 49 California counties, the largest payment being $11.8 million to San Luis Obispo County along the central coast in which the utility’s massive Diablo Canyon Nuclear Generating Plant is located.

Along with an earlier total of $68.7 million in property tax payments to the same counties last April, the utility paid more than $143 million in property taxes this year.

Calling it “full and timely payment” for property taxes covering July 1 through Dec. 31, 2002, Pacific Gas and Electric CEO Gordon R. Smith said his company has met “its commitment on local government,” helping fund vital public services, ranging from public safety to education.

“In these times of tight budgets, PG&E’s payment of property taxes, franchise fees and other taxes and fees remain a stable source of revenue for local governments,” Smith said.

In announcing the breakdown of it annual property tax payments, the utility stressed that since filing for Chapter 11 bankruptcy protection in April 2001 the company has continued to “meet its obligations to local governments by paying timely property taxes, franchise payments and other fees.”

This is the fourth property tax payment the utility has made to California counties since its Chapter 11 bankruptcy filing. The last of these twice-yearly payments was made on April 10. At that time, the utility paid $67.8 million in property taxes.

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