Tom Steyer Vows to Cut Electricity Bills by 25%, but Experts Say the Details Fall Short

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Written By Alejandra Cruz

Source: CalMatters  |  By Jeanne Kuang

It’s 2026, and “lowering utilities bills” is the new “housing affordability” for Democratic politicians.  In the governor’s race, self-funded billionaire candidate Tom Steyer is declaring he’ll reduce electricity bills by 25%. The environmentalist investor has featured the head-turning figure in ads promising that he’ll “introduce competition” to the electricity market.

“We’re happy to see all of them taking this issue seriously,” said Mark Toney, executive director of the consumer advocacy group The Utility Reform Network. “But a soundbite is not a proposal … It’s difficult to (lower rates) in one fell swoop, I will tell you that.”

 
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Alejandra Cruz
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