Newsom Signs Landmark Legislation to Lower Electric Bills, stabilize Gas Market & Cut Pollution
SACRAMENTO - Governor Gavin Newsom today signed a package of bipartisan legislation designed to save Californians billions on electric bills, stabilize the state’s gas market, and further reduce pollution, building on the state’s climate leadership. the bills address critical infrastructure needs and accountability for utility companies while accelerating the transition to clean energy.
A key component of the package focuses on wildfire prevention and support for survivors. The legislation creates the next generation of the California Wildfire Fund, aiming to protect ratepayers from excessive utility liability costs and ensure support for those impacted by wildfires. It also holds private electric utilities accountable, requiring them to invest billions in grid modernization and hardening – funded entirely by shareholders. Earlier this week,the Governor approved the first $3.3 billion allocation from Proposition 4, passed by voters last year, for firefighting, wildfire prevention, clean water, and agricultural projects.
The legislation arrives as California continues to demonstrate progress in reducing greenhouse gas emissions. Emissions are down 20% since 2000, even as the state’s GDP has increased by 78% during the same period. In 2023, California was powered by two-thirds clean energy – the highest percentage of any economy of its size globally. The state has achieved 100% clean electricity for portions of almost every day this year.
Since the beginning of the Newsom Administration, battery storage capacity has increased by over 1,900% to over 15,000 megawatts, and over 25,000 megawatts of new resources have been added to the electric grid.
The Governor signed the following bills into law:
* AB 825 by Assemblymember Cottie Petrie-Norris (D-Irvine): Addresses the Independant System Operator, establishing an independent regional organization.
* AB 1207 by Assemblymember Jacqui Irwin (D-Thousand Oaks): Extends the state’s market-based compliance mechanism for climate change.
* SB 237 by Senator Tim Grayson (D-Concord): Focuses on oil spill prevention, gasoline specifications, and environmental quality regulations, with specific provisions for the County of Kern.
* SB 254 by Senator Josh Becker (D-Menlo park): Addresses energy-related issues.
* SB 352 by Senator Eloise Gómez Reyes (D-Colton): Expands environmental justice initiatives through the Department of Justice’s Bureau of Environmental Justice, including community air monitoring.
* SB 840 by Senator Monique Limón (D-Santa Barbara): Directs studies related to the Greenhouse Gas Reduction Fund.
