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Senate committee forwards study of investor‑owned utility model and procurement reforms
Summary
SB 332 would direct a broad study of investor‑owned utility governance, procurement and alternatives (including municipalization) and includes procurement guardrails and labor-protection language; the committee advanced the bill after amendments.
Senators advanced SB 332, a comprehensive, multi-part bill that requires study of investor‑owned utility (IOU) governance and finance, adds procurement guardrails for infrastructure projects, increases transparency on disconnections and executive compensation, and includes language intended to protect labor pensions and benefits during any transition.
Sen. Wahab, the bill’s author, said California’s current utility model has produced high rates and growing customer financial hardship. "Utilities pass costs through to ratepayers while returning large profits to shareholders," Wahab said, and the bill focuses on improving safety,…
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