Sacramento—The California State Senate yesterday evening approved AB 1054 (Holden), a controversial and far reaching ratepayer bailout for PG&E and other investor owned utilities, by a 31-7 vote. The Assembly is expected to vote on the bill on Thursday, July 11.
The Ayes were Senators Allen, Archuleta, Atkins, Bates, Beall, Bradford, Caballero, Dahle, Dodd, Durazo, Galgiani, Glazer, Lena Gonzalez, Hertzberg, Hill, Hueso, Jackson, Leyva, McGuire, Mitchell, Monning, Moorlach, Nielsen, Pan, Portantino, Roth, Rubio, Skinner, Stern, Umberg and Wieckowski.
The Noes were Senators Chang, Grove, Jones, Morrell, Stone, Wiener and Wilk. Borgeas and Hurtado had no vote recorded.
The Senate Committee on Appropriations legislative analysis said, "This bill would create additional safety oversight and processes for utility infrastructure, recast recovery of costs from wildfire damages to third-parties, and authorize an electrical corporation and ratepayer jointly funded Wildfire Fund to address future wildfire liabilities."
Food and Water Watch opposes the bill, noting that Governor Newsom and state legislators “are jamming through the bill without adequate time for public review or comment, something former PUC President Loretta Lynch compares to Enron’s successful efforts to undo ratepayer protections in 2000.”
In response to efforts to use wildfire protections to enact sweeping electricity reforms that leave customers vulnerable, Food & Water Watch California State Director Alexandra Nagy made this statement:
“While a California victims’ compensation fund is needed as our climate-change-fueled wildfire season becomes longer, deadlier and more destructive, this rush to ram through AB1054 benefits utilities like PG&E, not ratepayers. Capping utility shareholder liability while expecting ratepayers to write a blank check for future wildfires is not a wildfire policy California needs.
“The legislature is rushing to pass the bill before the public knows what hit them. The bill weakens PUC oversight, dispersing it over several new entities, all while virtually guaranteeing that our electric bills will go up, since ratepayers are left holding the bag for billions in bonds and future wildfire costs.
“Instead of listening to utility lobbyists, Governor Newsom and state lawmakers should offer the option of a public takeover of PG&E to ensure that safety and affordability are the priority, not the utility’s bottom line. We urge Assembly members to hit pause, give this sweeping legislation a full hearing, and reject a bailout bill that will hurt their constituents.”
Action Alert: Use this form to call your California Assemblymember and urge them to vote NO on AB 1054!
