Assemblymember Boerner’s Bill to Reduce Utility Rates is Signed by the Governor

SACRAMENTO, CA. — To help Californians who are struggling to pay their utility bills, today, Governor Gavin Newsom signed Assembly Bill (AB) 2666 by Assemblymember Tasha Boerner (D-Encinitas). AB 2666 would require the California Public Utilities Commission (CPUC) to determine if rates were reasonably set for investor-owned utilities (IOUs) and adjust the approved rate of return downward at the next general rate case if the IOU made excess profits at the previous general rate case.

“Californians are fed up with high utility prices, and I am so happy to announce that the Governor signed AB 2666 to stand with hardworking Californians who are struggling with our state’s high cost of living. The CPUC needs to be held accountable for the sky-high rates they are approving and expecting Californians to pay,” stated Assemblymember Boerner.

According to the California State Auditor’s August 2023 report, “Electricity and Natural Gas Rates,” some IOUs were generating profits above their approved rate of return. The audit found an electricity rate increase between 16 percent and 23 percent from 2022 to 2023 by Southern California Edison, Pacific Gas and Electric, and San Diego Gas and Electric (SDG&E). Within the same year, these utility companies raised natural gas prices between 27 percent and 162 percent.

“Utility prices should be affordable for Californians because it is the right thing to do. We should not let investor-owned utility corporations profit off hardworking Californians,” said Assemblymember Boerner.

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Assemblymember Tasha Boerner represents the 77th District, which encompasses Carlsbad, Encinitas, Solana Beach, Del Mar, Coronado and the coastal communities of La Jolla south to Downtown San Diego. You can learn more about Assemblymember Boerner at a77.asmdc.org, Facebook, Instagram, or Twitter/X.