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Senate passes SB 254, a sweeping energy affordability and wildfire-fund package that backers say will save consumers billions
Summary
The California State Senate approved SB 254, a sweeping energy affordability and wildfire-fund package that combines wildfire financing, securitized utility investments, a transmission financing mechanism and tighter utility oversight.
The Senate on Saturday approved SB 254, a comprehensive energy affordability and reliability bill that combines wildfire fund financing, new financing authorities, tighter scrutiny of utility profits, permitting reforms and other measures supporters say will reduce rates and speed energy infrastructure.
Sen. Becker presented SB 254 as a broad package combining the senators prior proposal with assembly affordability proposals and an administration plan to shore up the Wildfire Fund. The bill includes $18 billion in capital for the Wildfire Fund, split evenly between…
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