Landmark Climate Deal Promises Savings, Stability & Cleaner Air for Californians
SACRAMENTO, CA – Governor Gavin Newsom and key legislative leaders have announced a comprehensive agreement on a package of bills designed to lower energy costs for families, stabilize the gasoline market, and further reduce pollution across California. The deal, reached after extensive negotiations, represents a notable step forward in the state’s ongoing climate leadership.
“This cements historic agreements on California’s signature climate policies,” stated Governor newsom. “I’m grateful to Governor Newsom, Speaker Rivas and the dozens of Senators and Assemblymembers who kept their noses down all year to bring home real and lasting change that will help every one of us live the California dream.”
assembly Speaker Robert Rivas emphasized the affordability aspect of the agreement. ”We’re building a new foundation that delivers lower energy costs and more money for California families,” he said. “And we took the time to get it right because real change, lowering costs and protecting homeowners is essential.This historic agreement puts California on a pathway with Western states to provide cleaner,cheaper,more reliable energy. It’s a landmark affordability agreement that will amount to billions of dollars in savings for Californians.”
Key provisions of the agreement include:
Saving Money on Electric Bills:
AB 1207 (Irwin) and SB 840 (Limon): These bills significantly increase the state’s Climate credit, which appears directly on utility bills, providing hundreds of dollars in annual savings for California residents.
AB 825 (Petrie-Norris/Becker): This legislation aims to lower customer energy costs and improve electric grid reliability by expanding regional power markets, allowing California to share clean energy resources with other Western states and reduce climate pollution.
SB 254 (Becker/petrie-Norris): Focused on both affordability and safety, SB 254 lowers customer energy costs while enhancing utility wildfire safety through improved oversight, an expanded Wildfire Fund, and increased scrutiny of utility business practices.
Stabilizing the Gasoline Market:
SB 237 (Grayson/Wilson): This bill addresses potential gasoline price spikes by stabilizing in-state petroleum production and diversifying the state’s transportation fuel supply. It also prioritizes the safety of communities near petroleum wells and strengthens requirements for idle petroleum pipelines.
cutting Pollution and growing the Economy:
AB 1207 (irwin) and SB 840 (Limon): These bills extend California’s Cap-and-Invest program (formerly known as Cap-and-Trade), a cornerstone of the state’s climate strategy.The program has already stimulated investments of nearly $33 billion into the state’s economy, funding projects in clean energy, natural and working lands, local transit and rail, affordable housing, clean water, forest health, and wildfire prevention and response.
AB 352 (Reyes): This legislation strengthens local air pollution reduction efforts, notably in California’s most polluted communities, by extending air pollution monitoring periods and ensuring focused action from state and local air quality agencies.
The agreement represents a collaborative effort between the Governor’s office and legislative leaders, demonstrating a commitment to addressing climate change while prioritizing the economic well-being of Californians.
