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Panelists tell Assembly funds could be used to lower electricity bills; debate on best mechanism
Summary
Academics and some committee members floated proposals to direct permanent GGRF revenue toward lowering retail electricity costs to accelerate electrification, while others urged caution and noted implementation tradeoffs.
At the Assembly subcommittee hearing on GGRF reauthorization, academic panelist Kyle Meng (UC Santa Barbara) urged lawmakers to consider using a portion of permanent allowance revenue to lower retail electricity rates as a targeted affordability strategy to speed electrification.
Meng described forthcoming analysis from his Environmental Markets Lab that he said shows an illustrative allocation of $1.2 billion annually could lower retail electricity payments for low-income households served by the three major investor-owned utilities by roughly 20–35…
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