Newsom signs cap-and-invest reauthorization to lower bills, expand western electricity market

Gov. Gavin Newsom signed a package of bills at an event in San Francisco that reauthorizes California’s cap-and-invest program and advances consolidation of a Western electricity market, officials and supporters said. The governor and legislative leaders said the measures will target lower electric bills, investments in transmission and other climate-related projects and protections for frontline communities.

The reauthorization, described repeatedly by speakers as a bipartisan package, includes provisions supporters say will direct funds toward utility-bill relief, transit passes, affordable housing, drinking water projects and wildfire protection. “Promises made, promises kept,” Gov. Gavin Newsom said at the ceremony, summing up the administration’s message about the legislation.

Supporters said the package balances emissions reductions with affordability and reliability. An Environmental Defense Fund representative at the event said California will “double down on collaboration to bolster climate action, sustain climate action, and increase access to cheaper, cleaner energy.” Assemblymember Jackie Erwin, who led the Assembly working group on the reauthorization, said the bills could…