California has a number of formal acts in statute. Public Utilities Code Division 1.7 provides the Golden State Energy Act, which is contained in Sections 3400 to 3558. The Act was added in 2020 by Chapter 27. Section 3400 provides the naming of the Act.
Section 3401 provides three legislative findings and declarations, including that the safe, efficient, and reliable generation, procurement, transmission, distribution, and storage of energy for residents and businesses in California is essential for living and doing business in California.
In addition, the Legislature recognizes that Pacific Gas and Electric Company may meet the requirements of Chapter 79 of the Statutes of 2019 and emerge from bankruptcy as a transformed utility that is positioned to provide Californians with access to safe, reliable, and affordable service.
And, the purpose of this division is to ensure that if Pacific Gas and Electric Company fails to emerge from bankruptcy as a transformed utility, then Golden State Energy is duly empowered to serve in that critical role.
Moreover, it is the intent of the Legislature that Golden State Energy act pursuant to this division only in the event that a transformed utility does not emerge from the bankruptcy or the transformed utility fails to meet its duty to provide safe, reliable, and affordable energy services.
Section 3402 provides that it is the intent of the Legislature that specified activities occur if Golden State Energy commences energy operations in this state.
Part 1 of Division 1.7 provides General Provisions, including Preliminary Matters and Definitions. Part 2 provides for the Golden State Energy Board Governance. Part 3 provides for Golden State Energy Regulation and Oversight. Part 4 provides for Golden State Energy Financing Power, and Part 5 contains Other Matters.
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