New law protects utility ratepayers

Gov. Newsom has signed Sen. Jerry McNerney’s Senate Bill 327, which protects ratepayers by strengthening oversight of investor-owned utilities and barring them from using ratepayer funds to fight local efforts to create municipal utilities.

“(Iinvestor-owned utilities) have been pocketing billions in record profits while Californians pay the second-highest utility rates in the country. And when ratepayers have attempted to lower their bills by creating a municipal utility, some utilities used their customers’ money to fight such efforts. This is unacceptable.” said McNerney, D-Pleasanton, in a press release. “SB 327 holds utilities accountable and will stop them from misusing ratepayer dollars.”

For the full report, click here.