Josh Becker — Senator Josh Becker thanks the witness and follows up with questions and comments on SB 254 and related energy policy issues. He asks about the CPUC’s ability to implement the financing mechanism, shifts to broader concerns about reducing rates and improving grid reliability, expresses support for partnering on load flexibility and grid efficiency, asks for better data on grid utilization and making better use of existing assets, and raises concerns about stranded gas assets and rising gas utility costs.
Josh Becker — Senator Becker is referenced in an ongoing discussion about budget and resource planning, including implementing his 254 proposal through a new cost profile approach and his probing of the underlying budget/resource issue.
Josh Becker — The speaker notes that Senator Becker has follow-up questions.
Josh Becker — Appears to be the senator asking questions about the wildfire fund and budget control.
Josh Becker — Likely the intended speaker reference in the question sequence; the transcript says 'Senator Rachel,' which appears to be a transcription error.
Josh Becker — Likely the speaker being thanked and responding to budget/resource questions; the transcript contains a possible mishearing of the senator's name as 'Senator Archela.'
Josh Becker — Likely the senator being addressed; the transcript contains a questionable name rendering as 'Senator Ratchelah.'
Josh Becker — The transcript says 'Senator Beck,' which appears to be a mishearing of Senator Becker; he thanks the witness and raises a question about clean energy project streamlining.
Josh Becker — Referenced as a senator whose bills helped include public financing concepts in prior legislation.
Josh Becker — Senator Josh Becker is referenced as having asked earlier about downside risk, and the exchange concludes with the witness thanking him. The senator then offers brief closing remarks, thanking the witness and noting he will work with members to put ideas into print this year.
SB254 — Discussed as a bill addressing wildfire mitigation costs and cost drivers on electricity bills.
SB254 — SB 254 is referenced as a recent statutory change that strengthened the alignment between wildfire mitigation planning, financial integration, and the general rate case process.
SB254 — SB 254 is discussed as aligning wildfire oversight with cost targets and requiring investor-owned utilities to securitize $6 billion in future wildfire risk mitigation capital expenditures. The witness says the agency appreciates the provision and is working to implement it rapidly.
SB254 — Discussed as legislation that originally would have required $15 billion in wildfire mitigation securitization, later reduced to $6 billion, and included scrutiny of utility spending requests before removal.
SB254 — Referenced as the bill that previously included the proposal, but the proposal was removed from the final package due to utility opposition.
SB254 — SB 254 is discussed as part of a broader critique of wildfire-related policy and affordability. The speaker argues that the bill, along with related legislation, created loopholes that should be closed, and says SB 254 was set up as a band-aid funding approach that ultimately benefits investors rather than wildfire victims. The discussion then turns to the need for constructive amendments to SB 254 to better address wildfire victim compensation and related concerns.
Professor Severin Borenstein — Professor Severin Borenstein is introduced as the first remote witness and then begins his testimony by offering a primer on the basics of utility regulation to help the committee understand the issue, including the context for high electricity rates.
President Reynolds — Introduced as a forthcoming presenter, described as president-elect or designate.
President Reynolds — President Reynolds is addressed as a panelist and invited to respond to questions, with the reference repeated in the same exchange.
James Gallagher — A senator is addressed, but the transcript does not clearly identify which member; the speaker says he cannot hear the senator.
Heather Hadwick — No direct mention in the text; none identified.
AB1207 — Cited as directing reforms to improve targeting of the California Climate Credit.
Professor Borenstein — The chair thanks Professor Borenstein for his testimony, invites him to participate in an open discussion with the panelists, confirms he is still present, and thanks him for staying with the committee.
SB410 — Cited as legislation being implemented to address interconnection delays and support faster interconnections.
SB410 — SB 410 is cited as the legislative direction behind energization implementation, used as an example in discussing utility spending concerns.
Witness — Explained the risk that gas system fixed costs could become less affordable as electrification reduces the number of gas customers.
Witness — Said the commission is attentive to gas-system affordability and safety, including maintenance, repair, and replacement of aging infrastructure.
Witness — Noted that electrification is being evaluated where appropriate, but many customers still depend on gas for heating, cooking, and existing buildings.
Witness — Was asked about progress on SB 1221 pilots and said they would follow up because they did not have the information handy.
Witness — Explained that memo accounts and balancing accounts are regulated differently from general rate cases.
SB1221 — Referenced as a bill that set up pilots; the speaker asked for an update on progress.
SB1221 — The bill is described as requiring the commission to conduct pilot programs for the transition away from natural gas to electrification.
Professor Bornstein — Was addressed as the witness being questioned about policy costs embedded in utility bills.
Professor Bornstein — Senator Richardson asked Professor Bornstein whether the background picture was real; the response identified it as the North Sea.
Professor Bornstein — The speaker references Professor Bornstein in connection with the question about universal service.
Gregg Hart — Senator Richardson thanked the chair for holding a level-setting hearing for newer members, then continued the exchange by cautioning against assumptions in the discussion and asking for clarification on the gas-reduction figures and related slide content.
SB884 — Cited as the statutory direction for separately reviewing expedited undergrounding costs.
SB84 — The speaker references SB 84 while discussing legislation that may make streamlining more difficult.
Henry Stern — Senator Henry Stern is introduced as the next questioner in the discussion, and the chair later confirms that he has a question and is next to speak.
Henry Stern — His point is referenced as being underscored by the speaker.
Henry Stern — Shifts the discussion from ROE and wildfire risk to the rate-based part of the issue.
Henry Stern — Referenced as having previously mentioned the issue being discussed.
Susan Rubio — Referenced as having probed the budget/resource issue.
Susan Rubio — The transcript appears to contain 'Senator Press,' which is likely a transcription error for Senator Rubio; the speaker then thanks and yields back.
Professor Bourne — The speaker cites Professor Bourne in asking whether there is asymmetry in data or personnel resources.
Jesse Arreguín — The transcript appears to refer to Senator Arreguín; the name is corrected from 'Archelaide' as a likely transcription error.
Linda Sarasawa — Linda Sarasawa is introduced as the director of the Public Advocates Office at the PUC and described as the public advocate representing the public’s interests. She then introduces herself and explains the mission of her office.
Shannon Grove — A discussion earlier that morning with Senator Shannon Grove about the Keene water issue and concerns affecting the rural community of Keene.
Madam Director — The witness is thanked for speaking up for ratepayers and for being present at the hearing.
Rebecca Bauer-Kahan — Asked what tools the Public Advocate's Office has to ensure ratepayer money is used appropriately.