The 2020 and quarterly earnings of the parent corporations of the four investor-owned utilities are a mixed bag. Annual net income for Edison International and PG&E Corp. drops while fourth quarter earnings rise. Sempra Energy’s reported income goes the opposite direction.
While utility leaders sing the praises of increased investments and revenue to analysts, economists, and ratepayer representatives warn that ever-rising rates will be the undoing of equity and clean energy in California. Using taxes, public funding pots and/or grid regionalization are some solutions put on the table to replace rate increases.
A Senate Budget Subcommittee weighs the tradeoffs between investing in electric vehicle stations or the vehicles themselves. Gov. Gavin Newsom’s plan to largely fund EV infrastructure gets a tentative nod.
Former Gov. Jerry Brown and Gavin Newsom, while running for office, Los Angeles residents and others urge a shutdown of the Aliso Canyon natural gas storage field after a well spewed massive volumes of methane for months. Legislation passed in 2016 directed regulators to figure out how and when to shut the SoCalGas wells down. But, CPUC staff say it is needed until 2030. Opponents try and push back.
The first of billions of dollars of ratepayer-backed bonds are issued. SCE sells $338 million to cover its wildfire capital costs. The Finance Team involved in the deal saves ratepayers millions of dollars, to the delight of advocates who pushed for oversight.