SB 254 (Becker) – PASSED
SB 254 (Becker) has been passed thanks to the Governor & Legislature
First step in the right direction for ratepayer affordability.
Requires public financing for new transmission projects that can save 50% of the costs borne by ratepayers.
Authorizes CPUC approval of wildfire mitigation plans and costs to set limits on utility overspending.
Finances $6 billion in wildfire safety capital investments with low-cost ratepayer bonds, saving ratepayers $3 billion over the first ten years.
Addressing the affordability crisis faced by residential, agricultural, industrial, and small business customers, as well as older customers, requires further legislation to:
Offset the additional $9 billion that ratepayers are required to contribute to the Wildfire Fund.
Strive to limit annual bill increases to the annual Cost of Living Adjustment (COLA)provided by Social Security.
Set limits on strict liability for utility wildfire damage that creates unlimited ratepayer risk of future costs.
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