Bill > SB332

This bill aims to comprehensively study and potentially transform California's investor-owned utility (IOU) model by requiring the Energy Commission to select a research institute to conduct an in-depth comparative analysis of transitioning electrical corporations like PG&E, Southern California Edison, and San Diego Gas & Electric to alternative ownership structures such as public entities, nonprofit public benefit corporations, or mutual benefit corporations. The study, which must be completed by January 1, 2029, will examine the legal, economic, financial, and governance aspects of such a transition, with a focus on achieving key policy objectives like reducing electricity costs for low-income communities, maintaining worker benefits, increasing public accountability, and accelerating clean energy integration. Additionally, the bill introduces several immediate reforms for IOUs, including requiring them to submit executive compensation structures that prioritize safety and affordability, conduct triennial equipment audits, develop a best-value procurement model for infrastructure projects, and publicly report on service disconnections. The bill's motivation stems from concerns about high electricity rates, excessive executive compensation, wildfire liabilities, and a perceived prioritization of shareholder profits over ratepayer interests, with the ultimate goal of creating a more equitable, transparent, and community-focused utility model.

Budget and Finance, Justice, Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB332