Added by Stats. 2020, Ch. 27, Sec. 12. (SB 350) Effective January 1, 2021.
This division shall be known, and may be cited, as the Golden State Energy Act.
Chapter 1 - Preliminary Matters
California Public Utilities Code — §§ 3400-3402
Sections (3)
Added by Stats. 2020, Ch. 27, Sec. 12. (SB 350) Effective January 1, 2021.
(a)The Legislature finds and declares all of the following:
(1)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. The economic strength and productivity of California and its residents require the availability of energy with which to operate their businesses and live safely in their homes.
(2)Californians residing, working, or doing business within Pacific Gas and Electric Company’s service territory deserve to be served by a utility that
prioritizes operational safety and efficiency, is prudently managed and soundly financed, and has a capital structure that enables it to make critical safety investments.
(3)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.
(4)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.
(b)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.
(c)A failure of Pacific Gas and Electric Company to exit bankruptcy will result in a risk to or delay of fair compensation to the victims that have already been waiting years to put their lives back together. It is therefore the intent of the Legislature that, should Pacific Gas and Electric Company not exit its bankruptcy, Golden State Energy be positioned to take over the utility and compensate victims.
(d)It is the intent of the Legislature that the commission regulate Golden State Energy as an electrical and gas corporation, except that the
commission should recognize its status as a nonprofit public benefit corporation, which does not have shareholders and operates for its customers and for the benefit of the people of California. Due to this difference, it is necessary to establish some alternative procedures for Golden State Energy.
Added by Stats. 2020, Ch. 27, Sec. 12. (SB 350) Effective January 1, 2021.
It is the intent of the Legislature that all of the following occur if Golden State Energy commences energy operations:
(a)The operation of Golden State Energy, as the successor to Pacific Gas and Electric Company, will be for the benefit of its customers and will lessen the burdens on the State of California. The purpose of any acquisition of Pacific Gas and Electric Company’s property, including franchise rights and stock, pursuant to this division is to provide more reliable energy services with greater attention on public safety.
(b)Golden State Energy should take into account rate impacts on all customer classes and
manage its operations to benefit customers throughout its entire service territory.
(c)Golden State Energy should manage its operations to best benefit the public that it serves, demonstrating leadership in the delivery of safe, reliable, clean, affordable energy.
(d)Golden State Energy should adopt procedures to encourage the election of board members who collectively reflect attributes, expertise, and experience relevant to the operation of a safe and reliable utility.