Senate Bill 332 aims to strengthen regulations on for-profit utility companies, particularly PG&E, by enforcing stricter audits and linking executive compensation to safety. Additionally, the bill seeks to evaluate alternatives, including public ownership of utilities. A resolution supporting the bill was scheduled for a City Council vote in Oakland but was withdrawn, disappointing advocates present. Local residents raised their concerns regarding escalating electricity rates and the necessity for increased oversight of PG&E, especially in light of its fire risks tied to utility lines. There are suspicions that lobbying influenced the Council's decision.
Senate Bill 332 aims to impose stricter audits on PG&E and other for-profit utilities, tying executive compensation to safety performance and exploring public ownership alternatives.
The proposed legislation faced setbacks in Oakland, where support waned after the City Council withdrew a resolution backing SB 332, leaving advocates disappointed.
Advocates, including local environmental groups, emphasized the necessity for heightened oversight of PG&E due to its history of fire-related incidents linked to utility lines.
Participants at the meeting voiced concerns over rising electricity costs after PG&E received approval for multiple rate hikes from the California Public Utilities Commission.
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