Californians to See Lower Electricity Costs with New SB 254 Legislation
Source: KDR12 ABC | By Jordan Gale
The California Legislature has passed SB 254, a significant piece of legislation aimed at reducing electricity costs and maintaining the state's wildfire fund after the 2025 Eaton Fire. According to the California Legislature, this bill will save utility customers billions of dollars annually. SB 254 introduces public financing for transmission infrastructure, potentially reducing project costs by up to 50%. It also includes securitization of $6 billion in wildfire safety investments, which could save ratepayers $3 billion over the next decade.
The bill's passage has been met with strong support, with 85% of voters emphasizing the importance of lowering electricity bills. Mark Toney of The Utility Reform Network highlighted the need for continued efforts to prioritize affordability for ratepayers.
