Pacific Gas and Electric Co. (PG&E) paid a $300 million fine levied by the California Public Utilities Commission (CPUC) for the 2010 natural gas transmission pipeline explosion in San Bruno, Calif., the company said Aug. 13.

CPUC announced its decision on April 9 and PG&E chose to move forward without an appeal. The payment to California’s general fund is due Oct. 6. The company recently completed the sale of additional stock necessary to fund the payment.

"We want our customers and their families to know that all of us at PG&E have committed ourselves to a goal of transforming this company into the safest and most reliable energy provider in America. We've made tremendous progress, but we have more to do and we are committed to doing it right," Tony Earley, chairman and CEO.

In addition to the $300 million fine to be paid to the state, the CPUC penalty requires that PG&E shareholders refund $400 million to gas customers and pay $850 million for gas system safety improvements.

The $400 million refund, which will be based on usage, will be returned to customers in early 2016 per the CPUC’s direction.

The company has also settled claims amounting to more than $500 million with all of the victims and families of the San Bruno accident, established a $50 million trust for the City of San Bruno for costs related to recovery and contributed $70 million to support the city's and community's recovery efforts.

The company has replaced pipe where necessary and installed more than 200 new automated or remotely controlled emergency shutoff valves.

More than 800 miles of remaining cast iron pipe were decommissioned and replaced with stronger, more efficient and seismically-sound pipe.

There is now a new gas operations control center and new gas leak detection technology.

Ten out of 12 recommendations from the National Transportation Safety Board are closed, and the other two are being worked on, the company said.

Pacific Gas and Electric Co. is a subsidiary of PG&E Corp. It is based in San Francisco.