Investor-owned utilities like PG&E continue to harm our communities. It’s not safe, economically sound or ecologically sustainable for them to remain as California’s gas and electric utility monopolies.
High energy burdens drive displacement in low income communities of color. Power shut-offs in wildfire-threatened areas disproportionately impact disabled and rural households. Shut-offs due to nonpayment are on the rise, while executive and shareholder profits are at historic highs. Our communities need immediate relief from the impacts of the investor-owned utilities, as well as long-term solutions to transform our energy system.
State Senator Aisha Wahab has introduced SB 332, the Investor-Owned Utilities Accountability Act, to address the immediate harms of the investor-owned utilities and invest in a resilient future.
The bill will:
- Cap investor-owned utility rate increases for residential customers to no more than the Consumer Price Index.
- Prohibit the shut-off of utilities for specified vulnerable ratepayers to ensure their health and safety needs are met.
- Reduce ratepayer contributions to the Wildfire Fund, and increase IOUs responsibility for the fund.
- Require annual audits of equipment that’s outlived its usable life in high fire risk areas.
- Require proposed executive compensation be contingent on safety metrics.
- Require undergrounding for replacement equipment.Support the Investor-Owned Utilities Accountability Act
- Fund resilience hubs and community infrastructure to meet power needs during emergencies.
- Fund a feasibility study to determine what form of utility best serves ratepayers.
SB 332 is sponsored by Reclaim our Power and Center for Biological Diversity, and must pass Senate policy committees and then the Senate Floor no later than June 6, 2025, before moving to the Assembly for consideration.
Please follow this link to find a breakdown of the bill. Contact your state senator, asking for support for this bill. You can find your senator and representatives via FindYourRep.