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California State Senate. (Photo: Kevin Sanders for California Globe)

The Golden State Energy Act

Empowered the State of California to establish a nonprofit public benefit corporation and a public financing authority to acquire Pacific Gas and Electric

By Chris Micheli, July 1, 2022 4:54 pm

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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7 thoughts on “The Golden State Energy Act

  1. This looks like a potential nightmare, that the STATE would take over PG&E if it “fails to emerge from bankruptcy as a transformed utility.” Was this the plan all along? Why on earth would we believe that the STATE would “provide safe, reliable, and affordable energy services” if PG&E cannot? Come on now, REALLY? Somebody, please, tell me I’m wrong.

    1. Public utilities offer higher levels of renewable portfolios, and cheaper rates across the board. There’s actually a lot of research out there about it if you want to look into it instead of just CAPITALIZING YOUR ANGRY REPLY.

  2. If you think your PG&E bill is expensive now just wait ’til you see what your CALPower bills look like.

  3. Just when you think “It CAN’T possibly get any worse than it already is here…” – this….

    Good luck, NorCal – but this will undoubtedly affect EVERYONE as these pols spread the pain as far and wide as they can….

    It’s the Communist way…. “From each according to their ability, to each according to their needs”, right???

  4. This appears confusing, but if what I read and then looked into. Golden state Energy is a utility company from Nevada that would be procuring PGE. But I could be wrong because it could be another governmental take over. The legislature reads out both ways…

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