The Buzz

25 Sep 2020

Southern California Edison reaches a $2 billion settlement with insurance firms that paid business and residential claims for their losses from wildfires in 2017-18 fires and mudslides. It includes funds for claims filed through mid-2023.

The same day, the City of San Diego formally opens bidding for its electric and gas right-of-way franchise. It has been held by San Diego Gas & Electric, whose competitors now include Warren Buffet. 

Utility regulators unanimous vote to allow SDG&E to build and modernize a controversial 12-mile line in Northern San Diego. The state commissioners also overhaul their out-of-date interconnection rule to the delight of renewable advocates.

Gov. Gavin Newsom grabs the spotlight with his announcement that sales of gas powered cars will be banned by 2035.  The electricity industry has slashed its greenhouse gas emissions now it’s the transportation sectors turns, with electric vehicles to lead the way.

SCE is stirring up controversy with its proposal before the California Public Utilities Commission to recover a part of its $1.5 billion in wildfire hardening expenses. The $337 million it plans to issue in bonds backed fully by ratepayers has a high standard to meet under AB 1054. Consumer advocates assert the utility’s proposal falls short of the law’s mandate, warning it will be the template for several utility securitization proposals to follow.

Central to Edison’s legal compliance is a net present value analysis. Wondering what the heck that means? Find out in Current’s present value analysis for dummies.

Accompanying the boom in net metered solar rooftops are shady contractors. The CPUC is considering creating a fund to assist those who pay to have energy systems installed on top of their homes and get shafted.

And more…

The Editors

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