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Senate holds informational hearing on SB 254 package to shore up wildfire fund and lower electricity costs
Summary
Senators held an informational hearing on SB 254, a comprehensive bill combining wildfire fund extensions, securitized financing for mitigation, public financing for transmission, permitting reforms and other affordability measures; authors said it will lower long‑term costs, while survivors and consumer groups urged stronger safeguards.
Senators held an informational hearing on SB 254, a multipart bill authored by Senator Becker with Assemblymember Petrie Norris as a joint author, to address wildfire liability, electric‑bill affordability and transmission financing.
Senator Becker described SB 254 as a package that combines provisions on wildfire mitigation spending, securitization of capital investments, public or public‑private financing for transmission, permitting reforms to speed clean‑energy projects, stronger scrutiny of utility profits and a strengthened successor wildfire fund. “This is a big bill for some big problems,” Becker said during the informational presentation, noting it includes “seven major topics” that the authors say together can reduce ratepayer costs and stabilize utilities after the recent fires.
Key elements described by witnesses and authors at the hearing included: a requirement that…
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