WHAT'S BEING PROPOSED TODAY.
WE ARE ABOUT READY TO START WE
HAVE A CINNAMON.
MAYES A SEVEN HOLDEN AND WE
SHOULD HAVE ASSEMBLY MEMBER
BURKE ANY SECOND IS THAT CORRECT.
RE RECORD INVITE.
THE ASSEMBLYMEMBERS TO COME TO
THE TABLE.
YES OKAY HOW DO THAT NOW.
SINCE CENTER HUESO IS STILL ON
HIS WAY I'M THE VICE CHAIR AND
I'LL BE CONDUCTING THE MEETING --
UNTIL HE ARRIVES.
BUT IN THE MEANTIME I'D LIKE TO
TAKE ROLE SO MADAM SECRETARY IF
WE COULD TAKE THE ROLE.
AM HUESO MORE LACK RESIDENT MORE
LIKE PRESENT BRADFORD
[inaudible]
KING [inaudible]
DIED.
DIED HERE HERTZBERG.
HERTZBERG HERE HILL HILL HERE
MCGUIRE.
MCGUIRE HERE RUBIO SKINNER.
STERN.
THE STERN HERE.
DOWN.
DOWN HERE WINNER.
WIENER PRESENT RAP FOR JUST
BEING OKAY.
SO WE HAVE A QUORUM.
GENTLEMEN WOULD YOU LIKE TO WAIT
THIRTY SECONDS FOR ASSEMBLY
WOMAN BURKE.
FOR WE'RE GONNA PRESENT TOGETHER
SO WILL BE HANDING IT OFF OF
FROM ONE TO THE OTHER SO IF THAT --
THIRTY SECONDS SHOULD BE ENOUGH.
BURKE EIGHT THIRTY SECONDS AND
WILL START
[inaudible]
IT IS WOMAN BURKE.
OKAY WERE READY TO BEGIN
[inaudible]
OKAY.
THANK YOU MISTER VICE CHAIR AND
MEMBERS OF THE COMMITTEE.
OF WE'RE HERE TODAY TO PRESENT
ASSEMBLY BILL TEN FIFTY FOUR
THAT'S THE PUBLIC UTILITIES
WILDFIRES AN EMPLOYEE PROTECTION.
SENATE TO YOUR COMMITTEE TODAY --
MEMBERS OF THIS IS NOT A NEW
ISSUE.
IT IS ONE WE HAVE BEEN WORKING
ON FOR MORE THAN A YEAR AND A
HALF.
LAST YEAR EXTENSIVE DEBATE
RESULTED IN SB NINE OH ONE WHICH
WAS ALSO INTENDED TO STABILIZE
THE FISCAL SITUATION OF
UTILITIES.
WE HAD THE OPPORTUNITY TO LEARN
FROM EXTENSIVE HEARINGS REPORTS
AND DEBATES AS WELL AS THE
GOVERNOR STRIKE FORCE REPORT.
AND THE RECENT NINE A ONE
COMMISSION.
ALL EFFORTS CONCLUDE THAT WE
MUST TAKE NECESSARY STEPS TO
ENSURE THAT WE HAVE FISCALLY
STABLE ELECTRIC UTILITIES IN THE
STATE.
WHICH CAN KEEP LIGHTS KEEP THE
LIGHTS ON IN ORDER TO PROTECT
CUSTOMERS AND OUR ECONOMY.
THAT IS THE CRITICAL THING
ENSURING THAT CUSTOMERS AND
CALIFORNIA'S ECONOMY.
STRENGTH STRENGTH CONTINUE TO BE
PROTECTED.
THEY WERE UTILITIES ARE THE
BACKBONE OF OUR ECONOMY AND THE
NECESSARY BACKGROUND.
OF OUR DAILY LIVES.
CLIMATE CHANGE FOR WHICH WE ARE
ALL SHARE RESPONSIBILITY HAS
CREATED A NEW REALITY IN
CALIFORNIA. ONE CONSEQUENCE IS
THE WILDFIRES WHICH ARE MORE
FREQUENT MORE DANGEROUS AND MORE
DESTRUCTIVE.
IN MANY INSTANCES UTILITIES OF
FAILED TO MAINTAIN THEIR
INFRASTRUCTURE RESPONSIBILITY.
IN OTHER CASES UTILITIES OF HELD
RESPONSIBLE. FOR THE DAMAGE
CAUSED BY FILLED INFRASTRUCTURE
UNDER INVERSE CONDEMNATION.
EVEN IF THEY DID NOTHING WRONG.
THESE TWO FACTORS THOUGH HAVE
BECAUSE THE BOND RATING AGENCIES
TO DOWNGRADE OUR UTILITIES. ONE
WENT TO JUNK BOND STATUS AND IN
BANKRUPTCY.
ANOTHER FACES THE SAME PLIGHT
THE SUMMER IF WE DO NOTHING.
OTHER UTILITIES PUBLIC AND
PRIVATE MAYBE CLOSE BEHIND AS
THE MARKET ACTIONS.
HAVE A CASCADING EFFECT.
THIS LEADS TO INCREASE BORROWING
COSTS FOR THE UTILITIES.
WHEN THEY BORROW AS MAJOR
BUSINESSES DO?
THOSE INCREASED COSTS WILL
INCREASE CUSTOMERS COSTS BY
HUNDREDS OF MILLIONS OF DOLLARS
ANNUALLY.
THEIR ONLY ALTERNATIVE WILL BE
NOT TO OPERATE AT ALL AND GO
INTO BANKRUPTCY.
AB FIFTEEN TEN FIFTY FOUR WILL
PAVE THE WAY FOR UNPRECEDENTED
SAFETY INVESTMENTS BY THE I. O.
USE.
WITHOUT PROFIT FOR SHAREHOLDERS
FORCE THE AYE ARE USED TO BE
ACCOUNTABLE FOR THEIR WHILE FIRE
SAFETY RECORD AND PERFORMANCE.
AND PROTECT CUSTOMERS AND
TAXPAYERS FROM HOLY BEARING THE
COSTS OF DEVASTATING WILDFIRES.
THIS BILL PACKAGE WILL
FACILITATE CUSTOMERS ACCESS TO
SAFE RELIABLE AND AFFORDABLE
POWER BY PROVIDING A DURABLE
SOLUTION TO THE PROBLEMS ARISING
FROM UTILITY BECAUSE WILDFIRES.
IN CALIFORNIA.
THE BILL'S ESTABLISH A NEW WALL
FIRE SAFETY DIVISION INITIALLY
WITHIN THE CPUC.
NO LATER THAN JANUARY JULY
TWENTY FIRST TWENTY TWENTY THE
DIVISION WILL BE TRANSFERRED TO
THE OFFICE OF ENERGY
INFRASTRUCTURE SAFETY WITHIN THE
NATURAL RESOURCES AGENCY.
THE BILLS ALSO ESTABLISH
PROCEDURES AND STANDARDS
APPLICABLE TO CATASTROPHIC
WELFARE PROCEEDINGS AND
STANDARDS APPLICABLE TO
CATASTROPHIC WILDFIRES.
CREATE A NEW PRUDENT MANAGER
STANDARD AND ESTABLISH A
WILDFIRE FUND AND MECHANISM TO
CAPITALIZE THE WILDFIRE FRONT.
I'LL NOW TURN.
OF THIS JOINT PRESENTATION.
OF OVER TWO ASSEMBLY MEMBER A
MAZE OF TO BE FOLLOWED BY
ASSEMBLYMEMBER BURKE -- AND THEN
WE WILL -- BRING UP OUR
WITNESSES TO TESTIFY.
THANK YOU ASSEMBLYMEMBER HOLDEN.
WELCOME ASSEMBLY MEMBER.
REYES THANK YOU ARE MISTER VICE
CHAIR I DO NOT HAVE A PREPARED
REMARKS AT TODAY -- I FIGURE
WOULD HAVE SOME SORT OF A
DIALOGUE -- WE HAVE NOW SPENT --
WELL OVER A YEAR AND A HALF --
WORKING ON THIS PARTICULAR AT-THIS PARTICULAR ITEM.
AND THE ONE THING I I THINK IT
IS IMPORTANT FOR US -- TO PUT AN
EXCLAMATION POINT ON IS THIS IS
NOT A PARTISAN ITEM THIS IS NOT
A DEMOCRAT PROPOSAL BEFORE US
THIS IS NOT A REPUBLICAN
PROPOSAL.
THIS IS NOT BY PARTISAN I IT IS
IT IS AND SHOULD BE A NON
PARTISAN.
THE TRUTH IS IF YOU WERE TO LOOK
AT THIS PROPOSAL WHICH THAT THE
GOOD WORK -- THAT THE GOVERNOR'S
OFFICE THE GOVERNOR'S TEAM --
PUT BEFORE US -- IS -- I THINK --
A A A GOOD PROPOSAL IT IS NOT
THE PROPOSAL THAT I WOULD HAVE A
THAT I WOULD HAVE DONE IN FACT
WHEN I INTRODUCED AB TWO THIRTY
FIVE AND BEGAN HAVING
CONVERSATIONS -- I WASN'T
THINKING THAT THERE IS ANY
POSSIBILITY AT ALL -- THAT WE
ARE GOING TO GET A UTILITIES TO
PONY UP TEN AND A HALF BILLION
DOLLARS.
IN SHAREHOLDER CONTRIBUTIONS.
BUT THAT'S WHAT WE HAVE BEFORE
US.
THAT IS QUITE A FEAT -- BUT TO
BE TO HAVE BEEN ABLE TO HAVE
HAVE GOTTEN THEIR I'M NOT SURE
OF ANY ONE OF US IF WE WERE TO
WRITE A PROPOSAL WE WOULD HAVE
COE UP WITH THE PROPOSAL BEFORE
US BUT THE PROPOSAL FOR US IS A
GOOD.
PROPOSAL IS IT PERFECT -- IT IS
NOT PERFECT BUT IT IS CERTAINLY
GOOD AND IT DOES CREATE SOME
CERTAINTY FOR AND SOME FINANCIAL
STABILITY. FOR THOSE WHO PROVIDE
A LOGICAL SERVICE TO ALL OF ALL
CALIFORNIANS.
I'M HAPPY TO ANSWER ANY
QUESTIONS AS WE GO FOR BUT AND
I'M SURE WILL BE HAVING A QUITE
A BIT MORE DISCUSSION HERE AS
WELL I THINK THIS IS SOMETHING
THAT WE'VE ALL STUDIED A WE'VE
WE UNDERSTOOD THERE'S BEEN.
AND I DON'T WANT COMMISSION
REPORT HAS BEEN A STRIKE FORCE
REPORT THERE'S BEEN SEVERAL
BILLS -- TO LOOK FOR THE
CONVERSATION.
YOU THANK YOU A SERMON MAYES
ASSEMBLY WOMAN BURKE WELCOME A
AHEAD THANK YOU TERENCE ERRORS
UNLIKE MY COLLEAGUES I HAVE
PREPARED REMARKS I AM NOT THAT
GOOD OFF THE COPS SO -- AB TEN
FIFTY FOUR RESPONSE THE ISSUES
OF WILDFIRES AND THE ROLE THAT
UTILITIES AND OUR STATE PLAY IN
THE CURRENT COMMITMENT.
IT SIMPLY SN'T ENOUGH TO CREATE
A FUND FOR FUTURE FIRES WITHOUT
THE FOLLOWING INCREASES AND
SAFETY REQUIREMENTS FOR
UTILITIES THIS BILL WOULD REALLY
ONLY SERVE AS A TEMPORARY FIX.
TO WHAT IS NOW PROVEN TO BE AN
ONGOING PROBLEM.
AND TO ADDRESS WILD FIRES IN THE
STATE MUST RESULT IN REDUCING
UTILITY CAUSE CATASTROPHIC FIRES
FROM OCCURRING IN THE FIRST
PLACE.
THIRD OF THE GOALS OF AB TEN
FIFTY FOUR IS TO ACCOMPLISH JUST
THAT.
THE BILL ESTABLISHES NEW SAFETY
AND COUNT ABILITY STANDARDS TO
REDUCE THE NUMBER OF UTILITY
BECAUSE WILDFIRES IN CALIFORNIA.
EVER TAKE CALIFORNIANS FROM
SHOULDERING THE COST OF FAILED
ENERGY SECTOR WITHOUT BACK
TRACKING ON THE STATE'S CLEAN
ENERGY GOALS.
AB TEN FIFTY FOUR AND ITS
COMPANION BILLS ESTABLISHED AND
NEW WILDFIRES SAFETY DIVISION
INITIALLY WITH THROUGH THE
WITHIN THE PC.
THE WILD FIRE SAFETY DIVISION
WILL BUILD SAFETY EXPERTISE AND
A WILD FIRE SAFETY ADVISORY
BOARD THAT WILL OFFER GUIDANCE
TO THE NEW DIVISION.
ELECTRICAL CORPORATIONS MUST
SUBMIT TO THE WELFARE SAFETY
ADVISORY BOARD A COMPREHENSIVE
WILD FIRE MITIGATION PLAN EVERY
THREE YEARS.
WITH AN ANNUAL UPDATE IN BETWEEN
THE BOARD WILL THEN MAKE
RECOMMENDATIONS TO THE DIVISION
ON WILD FIRE SAFETY PERFORMANCE
METRICS FOR UTILITIES.
IMPROVEMENTS A WILDFIRE
MITIGATION PLAN AND OTHER SAFETY
INITIATIVES AS REQUESTED BY JULY
TWENTY TWENTY ONE THE DIVISION
WILL BE TRANSFERRED TO THE
OFFICE OF ENERGYINFRASTRUCTURE
SAFETY WITHIN THE NATURAL
RESOURCES ENERGY.
BY AGENCY WHICH WILL HELP ENSURE
THAT ALL ELECTRIC INFRASTRUCTURE
IS REVIEWED AND ASSESSED BY
EXPERTS FOCUS ON DEVELOPING THE
BEST PRACTICES FOR WHILE BY A
REDUCTION.
WITH REGARDS TO THE
RESPONSIBILITY OF UTILITIES I
USE HAVE TO SPEND FIVE BILLION
IN AGGREGATE ON FIRE SAFETY AND
MITIGATION OVER THE NEXT THREE
YEARS AND SHALL HOLDERS WILL NOT
BE ABLE TO EARN A RATE OF RETURN
OR PROFIT FROM THIS INVESTMENT.
UTILITIES WILL BE FORCED TO HAVE
MORE ACCOUNTABILITY FROM THEIR
WILD FIRE SAFETY RECORD AND
PERFORMANCE THROUGH THE CREATION
OF A NEW SAFETY CERTIFICATION
THAT WILL HAVE TO BE AFTER
OBTAIN EVER ANNUALLY IN ORDER TO
ACCESS THE FIND CREATED BY.
TEN FIFTY FOUR THIS
CERTIFICATION IS ENFORCED BY THE
NEW WILD FIRE SAFETY DIVISION
AND ADVISORY BOARD AND REQUIRE
UTILITIES. TO DO THE FOLLOWING
TÁI EXECUTIVE COMPENSATION TO
PERFORMANCE STANDARDS CREATE A
SAFETY COMMITTEE WITHIN THE
BOARD OF DIRECTORS COMPLY WITH
THEIR WILD FIRE MITIGATION PLANS
AND PASS A SAFETY CULTURE
ASSESSMENT.
THE WELFARE RECOVERY FUND
ESTABLISHED IN TEN FIFTY FOUR
WILL REQUIRE UTILITIES TO
SATISFY SAFETY INVESTMENTS AND
OBTAIN THE ANNUAL SAFETY
CERTIFICATION IN ORDER TO ACCESS
THE FIND.
OTHERWISE THESE COMPANIES AND
THEIR CELL HOLDERS WILL BE
RESPONSIBLE. FOR THE FULL COST
OF WILDFIRES.
CLIMATE CHANGE INADEQUATE
MITIGATION EFFORTS AND
INVESTMENT AND UTILITY
NEGLIGENCE HAVE BROUGHT US TO
THIS JUNCTURE AND WE ACKNOWLEDGE
THAT NOT ALL FIRES ARE UTILITY
BECAUSE THE REVISION OF AB TEN
FIFTY FOUR AND ITS COMPANION
BILL ALLOW UTILITIES TO OFFER
SAFER AND AFFORDABLE POWER
THROUGHOUT THE STATE.
BUT MORE IMPORTANTLY IT ENDEAVOR
TO MINIMIZE AND PREVENT UTILITY
BECAUSE WILDFIRES FROM HAPPENING
IN THE FIRST PLACE.
IN DOING SO WE CAN PROTECT THE
PEOPLE OF CALIFORNIA BECOMING
VICTIMS NOT ONLY THE DEVASTATION
AND DESTRUCTION THE WILDFIRES IN
BECAUSE BUT THE PERFECT.
UNPREDICTABILITY OF UTILITY
COSTS AS WELL.
THANK YOU YOU HAVE TO WITNESSES
AND SUPPORT WELL HERE'S WHAT
WE'RE GONNA DO IF I COULD MISTER
CHAIRMAN -- WE HAVE -- ON A ON A
SINUS ON BEHALF OF THE
GOVERNOR'S OFFICE WHO'S HERE
WITH US TODAY.
AND WE I WOULD LIKE -- TO TURNED
TO HER AT THIS MOMENT JUST TO
HIGHLIGHT.
THE CONCEPT OF THE TWO FUNDS
THAT ARE OUTLINED IN THE IN THE
BILL.
AND THEY WILL CALL UP AS YOU
WISH THANK YOU SIR.
THANK YOU IF I MAY I WANT TO
THANK THE AUTHORS ON BEHALF OF
THE GOVERNOR AND THE
ADMINISTRATION AS WELL AS THE
COMMITTEE FOR ALL YOUR HARD WORK
ON THIS ISSUE AND YOUR MANY
IMPROVEMENTS TO THE MEASURE --
AND STRENGTHENING ITS FOCUS ON
SAFETY ACCOUNTABILITY AND DOING
SO AT A COST THAT SAYS LOADING
REPAIRS AS POSSIBLE WITH A GREAT
CONTRIBUTION FROM WALL STREET ON
THE QUESTION OF THE FUNDS.
AS AS THE AUTHORS MENTIONED --
YOU KNOW THE THE MEASURE
PROVIDES A SERIES OF OF KIND OF
TICKET TO ENTRY INTO FOR
REQUIREMENTS RELATIVE TO SAFETY
AND RELATIVE TO ACCOUNTABILITY
BEFORE -- UTILITIES -- CAN.
CAN HAVE ACCESS TO THE CLEAR
STANDARDS RELATIVE TO RECOVERY --
GIVEN THE TIMING NEEDED TO
PROVIDE STABILITY THE TIMING
NEEDED TO ENSURE THAT THE
MITIGATION EFFORTS THE FIVE
BILLION DOLLARS INFRASTRUCTURE
INVESTMENT.
THE EFFORTS THAT YOU'VE
AUTHORIZES PART OF THE BUDGET --
TO ADDRESS -- FORCE MANAGEMENT
TO ADDRESS PREVENTION AS WELL AS
EARLIER SUPPRESSION -- IT TO
PROVIDE TIME FOR THOSE PIECES TO
TAKE INTO EFFECT THE MEASURE
PROVIDES. ONE OF TWO DIFFERENT
OPTIONS RELATIVE -- TO TO FUNDS
TO PROVIDE.
RESOURCES FOR PAYING FOR CLAIMS
ARISING FROM UTILITY COSTS
WILDFIRES THE FIRST -- THE THE
DECISION WILL BE MADE WITHIN
FIFTEEN DAYS OF ENACTMENT OF THE
MEASURE.
THE FIRST OPTION IS A A
LIQUIDITY FUND.
WE DON'T BELIEVE THIS IS -- THE
OPTION THE UTILITIES WILL CHOOSE
BUT IT'S AN OPTION THAT REMAINS
AN OPTION FOR MANY IMPORTANT
PURPOSES IT BASICALLY.
WOULD PROVIDE A LINE OF CREDIT --
FOR PAYMENT OF CLAIMS THAT LINE
OF CREDIT WILL BE REIMBURSED BY
EITHER SHAREHOLDERS OR UP BY --
REPAIR ASSESSMENT DEPENDING ON
WHETHER OR NOT THE UTILITY WAS
PRUDENT IN -- IN ITS PRACTICES
OR NOT.
THE SECOND ALTERNATIVE IS AN
INSURANCE FUND -- THE INSURANCE
FUND WOULD BE CAPITALIZE FROM
TWO MAIN SOURCES IT WOULD BE
CAPITALIZE FROM TE TEN AND A
HALF BILLION DOLLARS IN.
CONTRIBUTIONS FROM UTILITIES
THAT AS MR MAYES -- RAISED WOULD
NOT BE RECOVERABLE FROM
RATEPAYERS IT WOULD ALSO BE
CAPITALIZED BY AN EXTENSION OF
EXISTING -- CHARGES THAT ARE --
THAT REPAIRS ARE PAYING -- SO IT
WOULD BE AN EXTENSION OF THE D.
W. OR RATE CHARGE -- FOR UP TO
TEN YEARS SO THOSE WOULD BE THE
TWO PRIMARY.
SOURCES OF FUNDING FOR A CLAIM
SPAIN RESOURCES THAT WOULD BE.
SUPPLEMENTED -- OR THEY WOULD
TURN INTO YOU KNOW FROM TWENTY
ONE BILLION TWO UP TO FORTY
BILLION DOLLARS OF CLAIM SPAIN
RESOURCES.
THAT BECOMES -- POSSIBLE BECAUSE
IT WILL ALSO BE AN ELEMENT THAT
WOULD PROVIDE FOR A 40%.
LIMITATION ON THAT --
GENERALISES 40% BUT IT COULD BE
INCREASE OF THE MINISTER DECIDES
NET IS NECESSARY IN TERMS OF
REIMBURSEMENTS TO INSURANCE
COMPANY FOR SO BEFORE
SUBROGATION CLAIMS -- IN THE FUN
COULD ALSO PURCHASE REINSURANCE
SO THAT PROVIDES BASICALLY A
FORTY FORTY MILLION DOLLARS A
CLAIM SPAIN RESOURCES.
ARE WE ARE FOLKS HAVE MODELED I
DON'T BELIEVE THAT THAT FUND
WOULD PROVIDE SUFFICIENT CLAIMS
BEING RESOURCES FOR ABOUT TEN
YEARS THERE COULD BE ADDITIONAL
CONTRIBUTIONS. TO THE FONT IN
THE FORM OF THE DUCK DOUBLES
PAID BY UTILITIES BASED ON THEIR
BEHAVIOR SO IF UTILITIES.
ARE -- ARE THERE'S A UTILITY
BECAUSE WHILE FIRE AND THE
UTILITY.
DID NOT.
YOU KNOW HAD TO HAD SOME -- SOME
FAULTS SOME NEGLIGENCE SOME --
THAT WAS NOT AS GOOD AN ACTOR
AND THEN THEY WOULD.
REIMBURSE THE FUND IF THEY DID
NOT HAVE A VALID CERTIFICATE.
OR IF THEY WERE WILLFUL ACTIONS
THAN THEY WOULD HAVE TO
REIMBURSE THE FULL AMOUNT OF THE
FIRE SO THOSE WOULD BE
ADDITIONAL CONTRIBUTIONS -- HAVE
I ANSWERED WHAT YOU WERE LOOKING
FOR ME TO COVER ALL RIGHT.
SO THANK YOU AND WE'RE HAPPY TO
ANSWER ANY QUESTIONS YOU MAY
HAVE.
THANK YOU MISS MANNERS HOW DOES.
NEXT WITNESS PLEASE.
WELL HERE'S A RUN.
MISTER JONAS RUSHER A WE HAVE IF
I COULD JUST INTRODUCE TO YOU
ARE.
TWO BOB OR OR WITNESSES WHO
WOULD LIKE TO ADDRESS.
THE COMMITTEE AT THIS TIME ARE
WE HAVE -- PATRICK MCCOLLUM FROM
A FROM THE ASHES.
AS WELL AS SCOTT WHICH REPRESENT
THE IBEW WORKERS -- WE WOULD
ALSO LIKE -- TO HAVE AN
OPPORTUNITY TO GREET YOU AND TO
PRESENT THEIR SUPPORT OF
POSITION -- REPRESENTS FROM
NATURAL RESOURCES DEFENSE
COUNCIL AND IN THE PENDANT
ENERGY PRODUCERS.
ALTHOUGH WE HAVE -- FOR
WITNESSES FORWARD.
BUT WE'LL KEEP IT BURKE AND
LET'S TRY AND THANK YOU THE
CENTER MELONES SHOWN HOW TO DO
IT.
MEMBERS OF THE COMMITTEE --
PATRICK MCCALLUM REPRESENTING UP
FROM THE ASHES.
ASHES REPRESENTS THE TWENTY FOUR
THOUSAND FAMILIES AND BUSINESSES
THAT HAVE LOST THEIR HOMES TO I
OWE YOU CAUSE FIRES.
IN ABOUT FORTY ONE LAW FIRMS
THAT ARE REPRESENTING THOSE
VICTIMS -- SO WE ARE SUPPORTING
AB FIFTY FOUR BECAUSE AB FIFTY
FOUR IS OUR OPPORTUNITY FOR
THOSE OF US ARE VICTIMS TO PUT
OUR LIVES BACK IN ORDER.
BUT MORE IMPORTANTLY AB FIFTY
FIVE TEN FIFTY FOUR IS OUR WHOLE.
THAT ALL VICTIMS AND
CALIFORNIANS CAN BE SAFER WE
BELIEVE WITH THE PROVISIONS ARE
IN THIS THIS IS GOING TO CREATE
A SAFER CALIFORNIA.
WE JUST RECENTLY HAD A MEETING
WITH VICTIMS WITH THE GOVERNOR.
AND EACH VICTIM TOLD THEIR STORY
THE FINANCIAL HARDSHIPS ARE
GOING THROUGH BUT THERE'S THEY
ARE HERE TODAY TO MAKE SURE WHAT
HAPPENED TO US DOESN'T HAPPEN IN
THE FUTURE.
I WANTED TO ADDRESS THREE QUICK
ISSUES I THINK THE UTILITY
RELIABILITY HAS BEEN WELL
ADDRESSED FIRST OF ALL SAFETY.
SO YOU'VE ADOPTED AN SB NINE
ALIGN SUBSTANTIAL SAFETY METHODS.
JUDGE ALSOP HAS IMPLEMENTED
MAJOR SAFETY RECOMMENDATIONS
THOSE RECOMMENDATIONS CAME FROM
TWO OF OUR TOURNEY'S A FIFTY
PAGE DOCUMENT THAT WAS ALSO
GIVEN THE GOVERNOR'S OFFICE IN
YOUR STAFF.
SO THERE HAS BEEN MUCH TO FOCUS
ON THE UTILITIES TO MAKE SURE
THEY'RE SAFER AND ACCOUNTABILITY
IT'S IN THERE WE STRONGLY
BELIEVE IN READING AB.
TEN FIFTY FOUR THAT THE
UTILITIES WILL BE SAFER AND MORE
IMPORTANTLY WITH ACCOUNTABILITY
IT'S JUST NOT SOMETHING THAT CAN
HAPPEN IN THE NEXT TWO YEARS.
THE CALIBER LEE IS THERE TO MAKE
SURE SAFETY IS THERE IN THE NEXT
DECADE OR TWENTY YEARS.
NEXT I'D LIKE TO TALK ABOUT RATE
PAYERS.
BUT WE HAVE CAREFULLY READ TEN
FIFTY FOUR WE HAVE DONE OUR
DETAILED ANALYSIS AND IT'S
HIGHLY COMPLICATED.
BUT WE BELIEVE THAT IF YOU PASS
TEN FIFTY FOUR BELOW BEFORE JULY
TWELFTH.
IT'LL PROVIDE SUBSTANTIAL
SAVINGS FOR P. JEANNIE CUSTOMERS.
MAJOR SAVINGS FOR EDISON
CUSTOMERS.
AND IT'S PROBABLY ABOUT FLAT
DEPENDING ON WHERE BILLS FOR SB
ANY CUSTOMERS AND THAT'S
ASSUMING THAT THE D. W. R.
CAPITALIZATION IS AN INCREASE
NOT A PASS THROUGH WITH THAT.
WE BELIEVE THIS IS A SAVINGS FOR
OUR RATE PAYERS IN THE LONG TERM --
AND FINALLY FOR VICTIMS.
THERE IS LANGUAGE IN THERE.
THAT IN TWO WAYS FOR VICTIMS
FIRST IT FORCES P. JEANNIE
QUICKLY TO GET THE TABLE.
NOW THEY HAVE FIRE SEASON
COMING IN THEY NEED TO BE IN
THIS FUN THEY NEED TO SETTLE
BANKRUPTCY FOR FOR THE GET THEIR
JUNE TWENTY TWENTY IS THERE
WITHIN IT BUT IT PUTS MUCH
LEVERAGE WITH AND IT.
WAS ALSO LANGUAGE IN THE BILL
THE KIDS ARE ABILITY TO TELL HOW
MUCH TO PROPERLY COMPENSATE
VICTIMS WITH THEN.
SO WHEN YOU LOOK AT ALL THAT
TOGETHER WE ARE STRONGLY
SUPPORTING THIS BILL WE WANT TO
THANK ASSEMBLY MEMBER HOLDEN AND
MAYES AND BURKE.
SENATORS -- DIED AND HURTS
BERGEN HUESO AND HILL THE
GOVERNOR'S OFFICE FOR PUTTING
WHAT WE BELIEVE IS A THE BEST
POSSIBLE.
POSSIBILITY PROVIDING SAFETY
RELIABILITY TORE UTILITY
COMPANIES AND RESTORING VICTIMS
TO BE HELD THANK YOU.
THANK YOU MR MCCOLLUM OF AND ARE
GOING TO NOW PLAY LITTLE TRAFFIC
CONTROL -- I HAVE A REQUEST FROM
A COUPLE THE SENATORS TO LISTEN
TO A MISTER STEVE WEISSMAN IS
THAT CORRECT.
HERE WE HAVE WORKED OUT LAST
YEAR WE WORKED IT OUT
[inaudible]
GERMANY AND TIME HE'S COME FROM
DIVERSITY CALIFORNIA.
I REALLY WANTED TO SPEAK
[inaudible]
ROAD ON SEVEN DAYS WHAT EVEN THE
INACTION [inaudible]
OR WOULD BE.
HERTZBERG IS IT POSSIBLE AYE AYE
ENTERS GEORGE BUSH PROFESSORS A
POSSIBLE AFTER THE SUPPORT IN
OPPOSITION YOU CAN COME AND
TESTIFY WITH THAT WORK I THINK.
I'M EASY TO WORK.
WITH ME OKAY.
GREAT THANK YOU.
MISTER CHAIRMAN THE MEMBER SCOTT
WHERE SHOULD BE AT THE
CALIFORNIA STATE ASSOCIATION OF
ELECTRICAL WORKERS I'M LIMIT MY
COMMENTS ONE SECTION OF THE BILL.
ONE SECTION ON ON PAGE THIRTY
NINE OF THE BILL.
GOING OVER TO PAGE.
FORTY THE SECTION.
EIGHT FIFTY FOUR OF THE PUBLIC
UTILITIES CODE THIS IS KNOWN AS
THE EIGHT FIFTY FOUR PROCESS.
THIS IS EXISTING LAWS. EIGHT
FIFTY FOUR APPLIES ANY TIME
THERE IS A MERGER.
ACQUISITION OR CHANGING CONTROL
OF AN INVESTOR OWNED UTILITY FOR
A TELECOMMUNICATIONS COMPANY.
THE P. YOU SEE HAS.
TO REVIEW THAT MERGER TO MAKE
SURE THAT IT'S IN THE PUBLIC'S
INTEREST.
THEY HAVE TO MAKE SURE THAT IT
DOESN'T HARM RATE PAYERS.
IT DOESN'T HARM THE SAFETY AND
RELIABILITY EMERGENCY RESPONSE
OF THE UTILITIES.
IT HAS TO MAKE SURE THAT IT'S
FAIR AND REASONABLE TO THE
WORKERS OF THE UTILITY.
AS WELL AS SEVEN OTHERS EIGHT
ITEMS IN TOTAL THAT'S EXISTING
LAW IT'S BEEN APPLIED MANY TIMES.
WE SAN DIEGO GAS ELECTRIC IN
CALIFORNIA EDISON COMPANY.
PROPOSED MERGER THEY WENT
THROUGH THIS PROCESS.
THE P. YOU SEE DENIED THAT
MERGER BECAUSE THEY RULED WHAT.
IT WASN'T IN THE BEST INTEREST
OF RATE PAYERS TO ALLOW THAT
MERGER.
IS BEING USED RIGHT NOW
CURRENTLY IN THE T. MOBILE
SPRINT.
MERGER THE SAME REVIEW IS BEING
APPLIED.
ON PAGE FORTY THREE OF THE BILL
IS NEW LANGUAGE SUBSECTIONS D.
E. N. AT WHAT THAT SECTION
PROPOSES TO DO IS ENSURE THAT
THAT SAME REVIEW.
HAPPENS NOT WHEN THERE'S AN
ENTIRE MERGER OF COMPANIES OR
SALE OF A COMPANY.
BUT MERELY WHEN THEY GO TO SELL
CHUNKS OF ASSETS.
WHY BECAUSE WE HAVE HEDGE FUNDS
NOW THAT ARE CONTROLLING
UTILITIES?
SO WHAT IF WE HAVE A THE THE
EQUITY GROUP OF P. GINNY DECIDES
THAT IT NEEDS TO GET A BUNCH OF
CASH QUICK.
AND DECIDES JUST TO START
SELLING ASSETS THAT THE REPAIRS
ARE PAID.
FOR AT AT RATES THAT ARE UNFAIR
TO THE RATE PAYERS OR THE HAVE
OTHER IMPLICATIONS.
AND WE FRANKLY DON'T CARE IF
THAT IS A TRANSFER OF ASSETS TO
A PUBLIC ENTITY.
OR A PRIVATE ENTITY WHAT'S THE
IMPACTS ON REPAIRS ON EMPLOYEES
ALL IN THE SAFETY AND
RELIABILITY OF THE SYSTEM IF YOU
HAVE A HEDGE FUND SELLING OFF
CHUNKS OF THE SYSTEM.
WHAT'S THE IMPACT OF WE HAVE
FOUR OR FIVE CITIES
SIMULTANEOUSLY MOVING TO
MUNICIPAL LIES AND BALKANIZED
THE ENTIRE SYSTEM.
SHOULDN'T THERE BE SOME BLUE SKY
REVIEW TO MAKE SURE THAT RATE
PAYERS EMPLOYEES.
THE POOR COMMUNITIES ARE NOT
DISADVANTAGED TO RICH
COMMUNITIES THAT'S WHAT THIS
LANGUAGE PROPOSES TO DO LET ME
GIVE YOU AN EXAMPLE OF THE TYPE
OF MITIGATION THE P. YOU SEE
EMPLOYEES IN THESE SITUATIONS.
THEY MAY LOOK AND SAY OKAY SAN
FRANCISCO IS GONNA BUY THESE
ASSETS FOR TEN BILLION DOLLARS.
BUT THAT'S GOING TO BE A COST
SHIFT TO THE PEOPLE OF NAPA OR
THE PEOPLE SANTA ROSA.
SO WE'RE GOING TO TAKE A BILLION
DOLLARS OF THAT SALE AND PUT IT
OVER HERE. TO HOLD THOSE REPAIRS
HARMLESS.
ONLY THE P. YOU SEE THROUGH A
REVIEW PROCESS CAN DO THAT.
IN THE PAST IN MERGERS WHEN TEY
FELT THAT THE ASSETS ARE BEING
SOLD HAD NOT BEEN MAINTAINED
PROPERLY BY THE COMPANY THAT WAS
SELLING THEM.
THEY MADE MONEY THEY'VE THEY'VE
MOVED TO PUT MONEY ASIDE TO
REQUIRE THAT MONEY BE INVESTED
IN THE SYSTEM AS A CONDITION OF
THE SALE.
THE ONLY WAY WE CAN PROTECT THE
ENTIRE GREETED THE SAFETY THE
RELIABILITY THE EMPLOYEES THE
RATE PAYERS.
AS A CODE SECTION SAYS THE
PUBLIC INTEREST IS TO HAVE SOME
REVIEW OF THAT TYPE OF OF
CHOPPING UP OF THE SYSTEM THAT'S
WHAT THAT LANGUAGE DOES AND WE
WOULD URGE AND I SUPPORT.
I HAVE TOM DOES -- WITH ME WHO
REPRESENTS THE TWENTY TWO
THOUSAND EMPLOYEES A P. JEANNIE
HE HAS AN ISSUE HE LIKE TO RAISE
AS WELL.
THANK YOU.
BRIEFLY -- I ALSO ADDRESS THE
THE ISSUE RAISED BY.
THE THREE MARES NOW IN THE LAST
FEW DAYS -- WITH THE WITH THE
LEGISLATURE WITH THE GOVERNOR'S
OFFICE IN TERMS OF THE THE BILL
LANGUAGE WITH THE UC REVIEW FOR
A PARTIAL SALE.
AM I WEAR MANY HATS THE HAT I'M
WEARING RIGHT NOW IS.
THE REPRESENTATIVE OF VIRTUALLY
EVERY UTILITY WORKER PUBLICLY
OWNED -- AND INVESTOR OWNED IN
NORTHERN CENTER CALIFORNIA -- AS
THINGS STAND WE HAVE PROTECTION
AND IN THE UTILITY CODE FROM THE
FULL BLOWN MERGER ACQUISITION WE
DO NOT HAVE.
PROTECTION FOR EMPLOYEES.
IN THE EVENT OF A PARTIAL --
SELLOFF -- AND THOSE OF YOU WHO
REMEMBER THE PGA BANKRUPTCY IN
TWO THOUSAND ONE IT WAS THE
INTENTION OF THE COMPANY THERE.
TO CHOP OFF HYDRO ELECTRIC
TRANSMISSION AND GAS
TRANSMISSION.
AND INTO A PARTIAL [inaudible]
YOU REMEMBER.
AND THAT WAS STOPPED AT THE P.
YOU SEE -- M. WE WOULD LIKE THAT
SAME PROTECTION NOW I THINK.
WHAT THE FIRES HAVE DONE IS
THEY'VE DRIVEN?
THE TRADITIONAL INVESTORS OUT OF
THE UTILITY BUSINESS ELITE OUT
LEASE OUT OF P. JEANNIE.
IT'S OWNED BY HEDGE FUNDS THE
BOARD IS HEDGE FUNDS.
M. THEIR PLAYBOOK IS FIND ASSETS
SELDOM SO WE ARE LOOKING FOR THE
SAME PROTECTION THAT OUR MEMBERS
WOULD HAVE.
ON THE WHOLESALE ACQUISITION OR
MERGER FOR THE US SLICE DICE AND
SELL -- SIMPLY ENOUGH.
THANK YOU YOU.
GOOD AFTERNOON MR CHALLENGE
JACKSON WITH THE NATURAL
RESOURCES DEFENSE COUNCIL WE ARE
IN SUPPORT OF THE BILL TODAY.
THE CAN TO THE VIEW EXPRESSED BY
SOMEONE MEMBER MAYES WE WE DON'T
THINK THIS IS PERFECT I THINK WE
DON'T THINK IT GOES FAR ENOUGH.
TO PROTECT CUSTOMERS FROM --
BASICALLY FINANCING A LOT OF
THESE COSTS I THINK WE HAVE TO
BE VERY CAREFUL ABOUT THAT IF
WE'RE GOING TO MAKE GOOD ON OUR
CLEAN ENERGY GOALS -- THE PRICE
ELECTRICITY DOES MATTER.
HOWEVER WE DO FEEL THE STATUS
QUO IS -- LEAVING US IN A BAD
SITUATION WE'RE SPENDING MORE
MONEY SERVICING DEBT THAT'S
MONEY NOT SPENT ON RENEWABLE
ENERGY.
VEHICLE EXTRICATION ALL THIS
DOES FOR YOU TO TAKE TO ADDRESS
CLIMATE CHANGE WHICH IS MAKING
THESE FIRES WORSE.
WE'RE ALSO CONCERNED THAT THE
ABSENCE OF OF THE MEASURES
CONTENT IN THIS BILL TODAY WE
WILL CONTINUE -- TO PUT
TREMENDOUS PRESSURE ON REPAIRS
TO PAY FOR THESE COSTS I THINK
WE NEED STABILITY.
WE THINK THIS MEASURE BRINGS A
MODICUM OF THAT BUT WE HOPE THAT
THIS BODY COMES BACK TO ENDORSE
THE FULL RECOMMENDATIONS OF THE
NINE A ONE COMMISSION -- WHICH
WE DON'T SEE THIS BILL THANK YOU.
JACKSON THAT BRINGS US THEN TO
ARE YOU WHAT YOU WANT TO WAIT TO
ALL THE WITNESSES OF OKAY THANK
YOU.
NAME AND WELL YES MONEY JONES OF
WITH INDEPENDENT EDGE PRODUCERS
AND WE REPRESENT -- ABOUT PEOPLE
WHO PROVIDE CLEAN ENERGY
CALIFORNIA RELIABILITY -- THE
CURRENT FINANCIAL INSTABILITY OF
OUR UTILITIES IN CALIFORNIA IS
HAVING IT EXTREMELY NEGATIVE A
FACT ON BOTH EXISTING --
CONTRACTS THAT THERE'S THREE AND
FIFTY CONTRACT OVER THREE UNDER
FIFTY CONTRACTS IN THE
BANKRUPTCY IT P. JEANNIE WHICH
IS A I THOUGHT I WAS ONE OF THE
FOUR SO.
YOU'RE A I'VE HAD FOR READY.
REMEMBER HOLDEN IS ARE THERE ARE
THERE ARE FOUR GROUPS AS IT
TURNED OUT THAT -- THE IBEW IS
HAD TO SPEAKERS DEALING WITH TWO
DIFFERENT ISSUES SEWER WITH.
MY APOLOGIES ALL OF THAT THAT
THAT'S OKAY I'D NOT.
THEN I CAN SHUT UP IF YOU WANT
IT WOULD BUT ANYWAY AND AN
ORGANIZATION AND WILL KEEP THE
THE THE DISCUSSION MOVED OKAY I
I WHAT I JUST WANT TO IMPRESS
UPON.
THE THE THE THE COMMITTEE YOU'VE
WE'VE DONE THIS BEFORE AFTER THE
TWO THOUSAND INTERVIEW CRISIS WE
HAD A FINANCIAL PROBLEM IF
PEOPLE INVESTING IN PROJECTS --
THE LEGISLATURE ENACTED AB FIFTY
SEVEN WHICH PROVIDED A
PROSPECTIVE APPROACH TO
BASICALLY FOR CARRYING A IN A
THAT FOR IT IS BASICALLY A A DID
AWAY WITH.
AFTER THE FACT REASON MOST OF
YOU YOU DO IT UP FRONT CHECK THE
BOXES MAKE SURE THAT DATED BACK
TO RESPONSIBLE RESPONSIBLY THAT
CAN WORK HERE IT IS ESSENTIAL IF
WE ARE GOING TO CONTINUE TO
INVEST MONEY IN OUR CLEAN ENERGY
RELIABILITY IN CALIFORNIA.
THAT WE STABILIZE -- THE UTILITY
MARKET IN FINANCIAL MARKET RIGHT
NOW BECAUSE THE UNCERTAINTY --
IS IS ACTUALLY GOING TO NOT HAVE.
AN EFFECT ON EXISTING CONTRACTS
BUT WILL PRECLUDE OR COST A
SIGNIFICANT AMOUNT MORE -- GOLD
GOING FORWARD TO MEET OUR CLEAN
ENERGY GOALS WOULD URGE YOU --
AND I VOTE THANK YOU.
CHAIRMAN AND MEMBERS DELANEY
HUNTER ON BEHALF OF THE SOLAR
ENERGY INDUSTRIES ASSOCIATION ON
THE LARGE SCALE SOLAR
ASSOCIATION IN STRONG SUPPORT.
GOOD AFTERNOON MR KAREN MEMBERS
CASSIE GILSON ON BEHALF OF THE
OFFICIAL CREDITORS COMMITTEE IN
THE P. JEANNIE BANKRUPTCY.
THE OFFICIAL CREDITORS COMMITTEE
IS APPOINTED BY THE US
GOVERNMENT TO REPRESENT THE
INTERESTS OF CREDITORS CLAIMS
AGAINST P. JEANNIE IT INCLUDES
TENS AND THOUSANDS OF UNION
MEMBERS AND RETIREES AND STRONG
SUPPORT OF THE BILL.
MISTER CHAIRMAN SENATORS I WOULD
GET ON A REPRESENTING CLEAR WAY
ENERGY GROUP WARNED SUPPORT.
KELLY VOID WITH THE CALIFORNIA
LOW CARBON FUEL AND ENERGY
COALITION IN SUPPORT.
I CAROLINE CHOI WITH SOUTHERN
CALIFORNIA EDISON -- WE AGREE
WITH OTHER SPEAKERS TO ALL OF
SAID THAT IS NOT A PERFECT BILL
BUT WE BELIEVE IT DOES THE JOB
OF KEEPING -- S. C. E.
INVESTMENT GRADE AND THAT IS
WHAT WE ARE AS YOU ALL KNOW
HOVERING JUST ABOVE INVESTMENT
GRADE AND REALLY SEE THE NEED
FOR URGENT ACTION TO MOVE THIS
BILL FOR SO WE SUPPORT THE BILL
THANK YOU.
MISTER CHAIR AND MEMBERS
CASSANDER GOFF WITH CALPINE IN
SUPPORT.
AB MAGANA HAVE THE SOUTHERN
CALIFORNIA PUBLIC POWER
AUTHORITY IN SUPPORT.
MELISSA CORTEZ ROTH ON BEHALF OF
THE CALIFORNIA WIND ENERGY
ASSOCIATION IN SUPPORT.
KERRY HAD AFFECT NEXTERA ENERGY
RESOURCES AND NEXT OUR ENERGY
RESOURCES TRANSMISSION WERE BOTH --
CALIFORNIA'S LARGEST RENEWABLE
ENERGY COMPANY AS WELL AS AN
INVESTOR OWNED UTILITY TO OUR
TRANSMISSION BUSINESS IN STRONG
SUPPORT.
MISTER CHAIR MEMBERS MAP BROUGHT
FOR THE ENGINEERS AND SCIENTISTS
OF CALIFORNIA WE REPRESENT ABOUT
FOUR THOUSAND PROFESSIONALSAT
P. JEANNIE AND WE ARE SURE I
THAT THANK YOU.
MISTER CHAIR NUMBERS JONATHAN
RIGHT LEGISLATIVE DIRECTOR
ENGINEERS AND SCIENTISTS OF
CALIFORNIA I OF PD LOCAL TWENTY
IN STRONG SUPPORT THANK YOU --
CHAIRMAN EMERITUS STAPLES FROM
ENGINEERS AND SCIENTISTS OF
CALIFORNIA LOCAL TWENTY I'VE P.
T. E. N. STRONG SUPPORT.
GOOD MORNING JOE FOSTER
SECRETARY TREASURER OF ENGINEERS
SCIENTISTS CALIFORNIA LOCAL
TWENTY EASTERN SUPPORT.
THANK YOU MISTER CHAIR MEMBERS
MITCH SNIDER WITH CALIFORNIA
LABOR FEDERATION WE ECHO THE
COMMENTS ELECTRICAL WORKERS WERE
ALSO IN SUPPORT.
CARE MARTINSON ON BEHALF OF THE
CALIFORNIA STATE ASSOCIATION OF
COUNTIES REPRESENTING ALL FIFTY
EIGHT COUNTIES IN CALIFORNIA IN
STRONG SUPPORT.
IT'S CHAIR MEMBERS GREG COOK
REFUSING TO THE CALIFORNIA POWER
AGENCY AND GOLD STATE POWER
COOPERATIVE IN SUPPORT OF THE
BILL THANK YOU.
GOOD AFTERNOON MARC JOSEPH ON
BEHALF OF THE COALITION
CALIFORNIA TOLD EMPLOYEES IN
SUPPORT THANK YOU.
I CHAIR MEMBERS OF IF IT'S
APPROPRIATE NOW WERE A NEUTRAL
BUT WE FELT IT WAS IMPORTANT TO
BE ON THE RECORD AND MAKE A
STATEMENT ON BEHALF OF CLICK A
CALIFORNIA LARGE ENERGY
CONSUMERS.
HIGH LOAD FACTOR CUSTOMERS WE
WORK VERY CLOSELY WITH THE
ADMINISTRATION AND THE MEMBERS.
AND WE REALLY APPRECIATE THE
TIME THAT STAFF THE GOVERNOR'S
OFFICE THE MEMBERS TOOK AND
ADDRESS ALL OF OUR CONCERNS ON
PROCESSING PROCEDURES WE DO HAVE
CONCERNS OVER THE SURCHARGE
BEING EXTENDED.
BUT IN BALANCE ARE WE LOOK
FORWARD TO HAVING -- FURTHER
CONVERSATIONS ON OTHER AREAS OF
RELIEF IN ENERGY EFFICIENCYAND
OTHER PROCESSES THAT CAN HELP
PROVIDE RELIEF TO LARGE LOAD
FACTOR CUSTOMERS THANK YOU VERY
MUCH AND THANK YOU TO STAFF.
SCRIPTURE MEMBERS OF THE
COMMITTEE JIM WOOD WITH A
CALIFORNIA NEWS PUBLISHERS
ASSOCIATION WE WANT IT WE ALSO
HAVE A NEUTRAL POSITION ON THE
BILL WE WANT TO THANK THE AUTHOR
ON THE AUTHOR STAFF -- SENATE
STAFF IN THE GOVERNOR'S OFFICE
FOR ADDRESSING OUR CONCERNS
ABOUT THE BAGLEY KEENE ACT IN
THE PUBLIC RECORDS ACT THAT WERE
IN.
THE PRIOR VERSION OF THE BILL
THAT WERE AMENDED OUT -- AS OF
JULY FIFTH AS WELL AS SP ONE
ELEVEN WHICH WE UNDERSTAND IS
THE PREFERRED VEHICLE FOR MOVING
FORWARD.
THANK YOU VERY MUCH.
GOOD AFTERNOON TERRY MAKE PRIDE
CALPERS COUNTY.
ON WE ARE PART OF THE BUTTE FIRE
FROM TWENTY FIFTEEN THE
FORGOTTEN ONES WE ARE FOR AB TEN
FIFTY FOUR BECAUSE MANY OF US
HAVE NOT SEEN ANY SORT OF
COMPENSATION.
IN ONE THOUSAND THREE HUNDRED
AND NINETY SEVEN DAYS THANK YOU.
HELLO MY NAME IS JAMES FAN I'M
FROM UP FROM THE ASHES ON A FIRE
SURVIVOR FROM THE TUBS FIRE.
AND I AM ALSO SEVERELY UNDER
INSURED.
MY KIDS MY SENATOR.
AND I AM VERY MUCH IN FAVOR OF
TEN FIFTY FOUR SOME VERSION OF
IT.
SO.
THANK YOU FOR YOUR SERVICE.
HI BRENDA GILCHRIST I'M ALSO
TUBS FIRE VICTIM AND I WANTED TO
COME HERE TO THE STATE CAPITOL
SUPPORT AB. TEN FIFTY FOUR SO I
THOUGHT WAS IMPORTANT IT'S AT
LEAST SOMETHING AND THERE'S A
GROUP OF US CALLED THE MISSING
MIDDLE THAT WERE SEVERELY UNDER
INSURED AND LIKE ME I'M STARING
AT A PIECE OF DIRT.
I'M NOT SURE I MEAN TO BE ABLE
TO REBUILD AT THIS POINT AND
ANYTHING WE CAN DO TO SUPPORT
SOMETHING THAT WE'LL GET BACK TO
THE FIRE VICTIMS.
I'M IN SUPPORT OF THAT SO THANK
YOU FOR LISTENING.
MR CHAIRMAN MEMBERS YOUR GARCIA
FOR THE WESTERN STATES PETROLEUM
ASSOCIATION.
WE DO NOT HAVE A POSITION ON THE
BILL AT THIS POINT WE ARE TAKING
A VERY CLOSE LOOK AT THE BILL.
UNDERSTAND THE COMPLEXITY OF THE
ISSUE AND THE NEED TO ADDRESS --
THE ISSUE OF THE UTILITIES --
ECONOMIC -- WELL BEING -- BUT WE
ARE CONCERNED AND WE WOULD WE
WOULD JUST WASHER TWO QUICK
POINTS WITHYOU.
WE KNOW IT'S NOT PART OF THIS
BILL.
BUT AT THE SAME TIME THAT YOU
ARE -- EXTENDING.
SUBSTANTIAL COSTS TO RATEPAYERS.
OUR CUSTOMERS ARE CUSTOMERS ARE
BEING NOTIFIED ABOUT THE
POTENTIAL FOR DE ENERGIZE ATION.
BUT AS THE LOSS OF POWER
PREEMPTIVELY THE LOSS OF POWER
BY UTILITIES.
WE THINK THAT THAT NEEDS TO BE
ADDRESSED.
WHETHER IT'S IN THIS BILL OR
THIS YEAR WE CAN'T HAVE BOTH AN
INCREASE SUBSTANTIALLY INCREASED
FEE AND LOSING POWER.
LAST FINAL POINT.
WITH THE INCREASE OF THE W. R.
FEE AND THE SECURITIZATION
AGAINST IT.
IT COMES WITH NON BY PASAL
SURCHARGES.
LOCKS IN CUSTOMERS FROM BEING
ABLE TO EXPLORE THEIR ON SITE.
CUSTOMER GENERATION NEEDS
WHETHER THEY CAN GENERATE
THEMSELVES OR DO SOME OTHER
FORMER GENERATION SO WE NEED TO
BE MINDFUL OF THAT.
THANK YOU VERY MUCH FOR YOUR
TIME.
GOOD AFTERNOON STACY HEATING
ROLE CALIBER PRESERVATIVES OF
CALIFORNIA WE ALSO DO NOT HAVE A
FORMAL POSITION ON THE BILL BUT
WE DID HAVE SOME STRONG CONCERNS
ABOUT THE ORIGINAL PUBLIC
PROCESS -- PORTIONS OF THE BILL
WE WANTED TO THANK THE AUTHORS
FOR TAKING CARE OF OUR CONCERNS
IN ADDRESSING THOSE IN THE
AMENDED FORM OF THE BILL WE ARE --
ISSUES HAVE PRETTY MUCH BEEN
ADDRESS THERE SO THANK YOU. FOR
OUR FOURTH WITNESS FOR TWEETERS
SO WE'VE DONE THAT.
AND ANOTHER TWEENER.
GOOD AFTERNOON MISTER CHAIR
MEMBERS OF THE COMMITTEE OF OUR
KNOWING HE JUST ON BEHALF OF
CALIFORNIA CONGENERS IN GROWERS
ASSOCIATION CALIFORNIA RAISING --
WESTERN OUR PROCESSORS
ASSOCIATION AND OTHER
AGRICULTURAL TRADE ASSOCIATIONS
AND COMMISSIONS AGAIN NO
POSITION BUT WE DO HAVE CONCERNS
SIMILAR TO WHISPER AND THEN ONE
MORE I JUST WANT TO POINT OUT
WHEN WE'RE TALKING ABOUT THE D.
W. R. FEE.
THAT IS NOT AN EXTENSION IT IS
NEW AND FOR A NEW PURPOSE AND
FOR SOME OF MY CLIENTS MEMBERS
THAT YOU KNOW OVER FIVE HUNDRED
THOUSAND DOLLARS A YEAR THAT
THEY THOUGHT THEY WERE NOT GOING
TO BE HAVING TO PAY ANYMORE.
SO I WANT TO THINK THE AUTHORS
FOR MEETING WITH US IN HEARING
OUR CONCERNS THE GOVERNOR'S
OFFICE FOR A MEETING OUR
CONCERNS BUT WE WILL BE WATCHING
THIS CLOSELY THANK YOU.
YEAH JUST NAME IN PHILLY AT
ROBERT HOUSE BEEN.
TUBS FIRE I WE WERE EVACUATED AT
THREE AM WITH A FIRE ON OUR BACK
FENCE -- I DON'T SEE THIS IS A
BAILOUT I SEE THE T. A. B..
TEN FIFTY FOUR HAS A CRITICAL
MOVED.
TO LEARN FROM THE PAST AND
HOPEFULLY MAKE AMENDS TO THANK
YOU -- GOOD AFTERNOON MY NAME'S
PAM FULLER I AM A SURVIVOR OF
THE CAMP FIRE.
AND DIE WHICH RECENTLY RETIRED
BEFORE THAT I LOST MY HOME
THIRTY SEVEN YEARS -- SINCE THEN
I HAVE BEEN STRUGGLING
FINANCIALLY EVEN THOUGH HE HAD
INSURANCE -- WE ARE STRUGGLING
FINANCIALLY BECAUSE WE ALMOST
HAD OUR HOUSE PAID OFF WE'D
RETIRED.
AND NOW WE'VE GOT A FULL TIME
JOB JUST TRYING TO GET BACK TO
BASICS WE NOW HAVE A THIRTY YEAR
LOAN BECAUSE WE HAD TO BUY
SOMETHING ELSE AND DID NOT
ACCOUNT FOR THIS.
ANYHOW -- THERE ARE MANY PEOPLE
STILL STRUGGLING AND FINANCIAL
EVEN IF THEY HAVE INSURANCE THAT.
I HOPE YOU DON'T FORGET IT THANK
YOU SO MUCH FOR COMING.
MR CHAIRMAN MEMBERS LAND TRITON
ON BEHALF OF CONSUMER ATTORNEYS
OF CALIFORNIA AND THE AMERICAN
NGUYEN DANDER ENERGY ASSOCIATION
BOTH IN STRONG SUPPORT THANK YOU
FOR YOUR HARD WORK.
HI NATALIE NEXT IMPACT ON BEHALF
OF CALIFORNIA CHART WERE ALSO AN
IN BETWEEN ARE WE ARE SUPPORTIVE
OF AN AMENDMENT OR ADDITIONAL
LEGISLATION THAT INCLUDES A
POTTER VALLEY PROJECT.
THANK YOU.
GOOD AFTERNOON MISTER CHAIR
MEMBERS MY NAME IS JOHN ALLEN
OPERATIONS OFFICER FOR A PM
HOMES OF SANTA ROSA IN PARADISE.
AS A BUILDER WHO HAS BEEN ON THE
FRONT LINES OF THE TWO THOUSAND
AND SEVENTEEN FIRES WITH WATER
TRUCKS AND BULLDOZERS.
A BUILDER WHO IS BUILT FIFTY
HOMES FOR FIFTY FAMILIES IN THE
PAST YEAR IN THE FIRE RAVAGED
NEIGHBORHOOD OF COFFEE PARK.
AND AS A BUILDER NOW ASSISTING
NORTHERN CALIFORNIANS IN BUTTE
COUNTY RECOVERING FROM THE
CAMPFIRE OF TWO THOUSAND
EIGHTEEN I CANNOT EMPHASIZE
ENOUGH THE IMPORTANCE OF
ASSEMBLY BILL.
TEN FIFTY FOUR AS IT PERTAINS TO
THE RECOVERY OF FIRE SURVIVORS.
WORKING HAND IN HAND ELBOW --
ONE YOU PLANNING ON GOING BUT
THAT.
YOU NEED TWENTY SECOND TWENTY
SECOND -- I HAVE WORKED WITH
HUNDREDS OF FAMILIES WHO THROUGH
NO FAULT OF THEIR OWN HAD TO
BECOME REAL ESTATE DEVELOPERS IN
THE WAKE OF CALIFORNIA'S
WILDFIRES.
BEING A BUILDER IN THE STATE OF
CALIFORNIA IS NO EASY TASK AND
FOR THE THOUSANDS OF FAMILIES
WHO HAVE NEVER BUILT A HOME
BEFORE.
THIS TASK OF REBUILDING THEIR
HOMES IN SOME CASES IS
UNATTAINABLE.
REAL RECOVERY STARTS ONCE
THEY'RE BACK IN THEIR HOME SO
THAT THEY MAY BEGIN REBUILDING
THEIR LIVES.
THE PASSAGE OF AB TEN FIFTY FOUR
WILL ALLOW THOSE FAMILIES TO
RECOVER IN A MORE EXPEDITED AND
HUMANE MANER THANK YOU.
GOOD AFTERNOON MISTER CHAIR
NUMBERS CAROLING ON BEHALF OF
MARYLAND AND BREED IN SUPPORT OF
THE CONCEPT OF THE MEASURE THEY
DID SUBMIT A LETTER OF CONCERN
REGARDING ONE PROVISION BUT ARE
OTHERWISE VERY SUPPORTIVE OF
WHAT THE BILL IS TRYING TO DO
THINK SO MUCH.
YOU.
MARK TONY EXECUTIVE DIRECTOR OF
TURN YOU UTILITY REFORM NETWORK.
MOST DIFFICULT.
POSITION WE'VE EVER HAD TO TAKE
ON A BILL.
THERE IS.
IMPORTANT THINGS WE DON'T LIKE
ABOUT THE BILL BUT THE IMPORTANT
THINGS WE DO LIKE WE DO LIKE THE
FACT THAT FOR THE FIRST TIME
UTILITIES WILL BE REQUIRED. TO
MATCH DOLLAR FOR DOLLAR. TEN
POINT FIVE BILLION DOLLARS OF
RAPE HERE CONTRIBUTIONS WE THINK
IT'S IMPORTANT THAT UTILITIES
ARE ALSO GOING TO BE REQUIRED TO
PAY INTO WILD FIRE MITIGATION
FUNDS.
WE ALSO THINK IT'S IMPORTANT
THAT THE EXECUTIVE COMPENSATION
IS GOING TO BE LINKED TO FIRE
SAFETY.
THERE ARE A LOT OF THINGS IN
THIS BILL THAT.
WE DON'T LIKE BUT OVERALL WE
THINK THAT THIS BILL IS THE BEST
PACKAGE THAT IS IN FRONT OF US
NOW.
WE ARE RESERVE THE RIGHT THAT IF
THIS BILL DOES NOT TURN OUT THE
WAY THAT ITS PROMISE THAT IT IF
IT DOES NOT PROTECT RATEPAYERS
THE WAY THAT IT'S PROMISED WE
RESERVE THE RIGHT. TO COME BACK
AT THE MAN.
LATER ON THANK YOU VERY MUCH.
THAT PROPOSAL WE ARE SITTING ON
THE TABLE THANK YOU.
THANK YOU MISTER CHAIR MARK
FENSTER MAKER ON BEHALF OF THIS
NUMBER OF CINEMA WATER WERE THE
WHOLESALE WATER SUPPLIER FOR
CINEMA COUNTY BUT ALSO IN THE TO
WINNER POSITION SIMILAR TO
CALIFORNIA TROUT.
SEEKING -- SOME SEPARATE
RESOLUTION FOR THE FUTURE OF THE
POTTER VALLEY PROJECT THANK YOU.
MICHAEL BOOKER ON BEHALF OF THE
AG ENERGY CONSUMERS ASSOCIATION
WE ARE ALSO NEUTRAL ON THE BILL
SOME OF THE SAME CONCERNS YOU
HEARD EXPRESSED BY THE BUSINESS
COMMUNITY.
ALSO ON BEHALF OF ONE OF OTHER
CLIENTS OF SAN JOAQUIN
IRRIGATION DISTRICT WE ARE
CONCERNED ABOUT POTENTIAL
IMPLICATIONS AS IT RELATES TO
THEIR ONGOING MUNICIPALS ATION.
BUT WE HOPE TO WORK THAT OUT SO --
THANK YOU.
BETTER GO TO THE CALIFORNIA
MUNICIPAL UTILITIES CESSATION WE
HAVE NOT A TIME TO TAKE OFFICIAL
POSITION ON THE BILL BUT WANT TO
TAKE THE OPPORTUNITY THINK THE
AUTHORS.
AND THE GOVERNOR'S OFFICE FOR
DRESSING SOME INITIAL CONCERNS
THAT WE HAD IN THE PRIOR DRAFT
THE BILL WE LOOK FOR TO FOR THE
REVIEW.
AND WANT TO THANK THE AUTHORS
AGAIN THANK YOU.
AND THAT'S ALL OF THE TWEETERS
TO WE HAVE SPEAKERS AN OP --
WE'RE GONNA HAVE.
GO TO THE SPEAKERS IN OPPOSITION
THEN WE'LL HEAR FROM
[inaudible]
MICHAEL WEITZMAN.
OF A SPEAKERS STEVE WEISSMAN I'M
SORRY [inaudible]
RATHER.
I SPEAKERS IN OPPOSITION PLEASE.
IF WE CAN MAKE SOME ROOM HERE AT
THE TABLE.
OVER THERE WELCOME TO FEEL LIKE.
IF YOU LIKE A FLY YOU CAN SPEAK
FROM THE MIKE -- DOES FIND MUCH
MUCH TIME.
THE INTRACTABLE TIME THANK YOU
VERY MUCH -- I APPRECIATE THE
DIFFICULT BALANCE OF THIS BILL
MY NAME IS WILLIAM ABRAMS -- I
AM A WILDFIRE SURVIVOR FROM THE
TWO THOUSAND SEVENTEEN NORTH BAY
WILDFIRES -- AND I REALLY WAS
HOPING THAT WOULD BE -- IN THE
PREVIOUS LINE -- AND I'M NOT --
THIS CHRISTMAS TREE FOR
UTILITIES HAS TOO MANY ORNAMENTS
ON IT I TRIED TO REACH OUT.
TO MANY FOLKS -- ON ALL SIDES OF
THIS ISSUE TO TRY TO GET SOME OF
THOSE ORNAMENTS OFF THE TREE BUT
THEY'RE STILL ON THERE THERE IS
LESS OVERSIGHT.
AND LESS ACCOUNTABILITY IN THIS
BILL THEN CURRENT STATE.
THERE IS LESS TRANSPARENCY IN
THIS CURRENT BILL THEN CURRENT
STATE.
THERE IS LOOPHOLES PUT INTO THIS
BILL THAT THE UTILITIES AND
THEIR ATTORNEYS WILL DRIVE
TRUCKS THROUGH.
I WANT TO BE IN THE OTHER LINE I
CANNOT SUPPORT THIS BILL AND
MAKES BREAKS MY HEART.
THERE ARE MANY PEOPLE.
WHO ARE AFFECTED BY THE FIRES
THAT -- THEY NEED THE MONEY.
AND I UNDERSTAND AND I
SYMPATHIZE WITH THE FOLKS WHO
ARE ON THAT SIDE AND I WANT TO
BE THERE BUT I CANNOT IN GOOD
CONSCIOUS SUPPORT THE BILL.
ON THE BACKS OF FUTURE WILDFIRES
SURVIVORS AND THAT'S WHAT THIS
DOES.
THIS LESSONS ACCOUNTABILITY FOR
THE UTILITIES.
AND IT HOLDS THEM TO A LOWER
STANDARD.
THERE WAS A QUOTE FROM THE
STRIKE FORCE REPORT HOW THAT WAS
RELIED UPON FOR THE CREATION OF
THIS BILL LET ME QUOTE THE
STRIKE FORCE REPORT.
THIS SHOULD BE BASED UPON THE
SPECIFIC PERFORMANCE BASED RISK
MITIGATION METRICS THAT ARE
INDEPENDENTLY AND SCIENTIFICALLY
VERIFIED.
NOTHING CLOSE TO THAT AND THIS
BILL THIS IS GENERALITIES OF A
REASONABLE LIST WITH CAVIAR IT'S
THERE ARE MADE FOR THE UTILITIES
TO DRIVE TRUCKS THROUGH THESE
PROVISIONS.
THIS IS NO WHERE CLOSE TO WHERE
IT NEEDS TO BE IT'S ONE THING I
WAS PERFECTLY FINE WITH IT
ANYBODY STEP FORWARD THIS AIN'T
THAT THIS IS STEPS BACK.
WE CAN'T TAKE STEPS BACK FROM
THIS THE ONLY THING THAT'S GOING
TO HELP THE UTILITIES I HOPE TO
IMPROVE THEIR CREDIT RATING
WHICH I WOULD LOVE.
AS THEY GET PERFORMANCE BATES
METRICS ARE PLAN A STRATEGY THAT
IS NOT ARTIFICIALLY PROPPED UP
BUT THERE'S THEM WORKING TO MAKE
US SAFER.
THAT IS THE ONLY PATH FORWARD
SET THE METRIC SET SPECIFIC
STANDARDS IN DRIVE TO THOSE
STANDARDS THIS DOES NOT DO THAT
THERE'S NOTHING IN HERE THAT
DIRECTS THAT ADDS THREE LAYERS
OF BUREAUCRACY.
ON TOP OF THE CPU.
AND BY THE WAY I SHOULD ALSO SAY
I AM THE ONLY INDIVIDUAL
RESIDENT WHO IS A PARTY TO THE
WILD FIRE MITIGATION PLANS
BEFORE THE CPUC AND BY ALL MEANS
THERE ARE ISSUES THERE.
AND THAT IS NOT A PERFECT
REGULATORY BODY BY ANY MEANS BUT
THROWING ADDITIONAL LAYERS OF
BUREAUCRACY ON TOP OF THAT
ORGANIZATION AND THEN JUST.
CALLING THAT A CURE IS NOT A
SOLUTION WE NEED TO MAKE SURE
THAT THIS IS MADE FOR THEIR ALSO
IN THIS LIMITED TO IGNITIONS HOW
DID THAT GET IN THERE.
DOROTHY SPREAD THE WILDFIRE AND
IT CONTINUES ON THAT'S NO LONGER
THEIR RESPONSIBILITY IT'S ONLY
IGNITIONS THAT IS RIDICULOUS
THERE IS A THIS IS A SLOW WALK
AWAY FROM INVERSE CONDEMNATION
WHICH AGAIN I SUPPORT.
IF IT'S DONE WITH THOUGHT THIS
IS A RUSH IN HASTE TO GET THIS
DONE BY THE END OF THE WEEK AND
IT'S TOO IMPORTANT FOR THAT.
I'M MORE FOR ROLLING UP OUR
SLEEVES AND I WANT TO SUPPORT
THIS BUT I WOULD SUGGEST ROLLING
UP OUR SLEEVES.
SITTING DOWN GETTING ALL
STAKEHOLDERS AT THE TABLE
INCLUDING THE ONES THAT ARE FOR
SAFETY.
PROTECT OUR COMMUNITIES PARK
WHERE ARE THEY IN THIS.
MUCH A GREAT ROLE AT ROAD
ALLIANCE THE PEOPLE HAVE BEEN
ADVOCATING FOR CONSUMER
PROTECTIONS IN THE SPACE FOR
YEARS NO MORE REPRESENTED THIS
BILL NOT CONSULTED ON THIS BILL.
NOT SITTING IN THIS ROOM TODAY.
THIS CANNOT GO THROUGH WITH THE
OLDEST WITHOUT THOSE TYPES OF
CONSUMER SAFETY MEASURES.
IT'S THROUGHOUT THE BILL I COULD
GO ON TO HAVE ANOTHER MINUTE
WELL WE HAVE OTHER SPEAKER SIR
IF YOU WANT TO WRAP UP YOUR
COMMENTS BECAUSE WE HAVE QUITE A
LINE.
OKAY WAY I I I APOLOGIZE CLEARLY
I'M VERY PASSIONATE ABOUT THIS
ISSUE I JUST ENCOURAGE FOLKS I
WANT THIS TO GO THROUGH ALL WE
REALLY APPRECIATE YOUR COMMENTS
IN YOUR WHEN I REALLY AYE AYE.
I I HOPE IT WORKS THEN IT WOULD
HAVE BEEN.
HELPFUL TO SUGGEST WHAT PARTS OF
THE BILL SPECIFICALLY THAT YOU
HAVE.
SPECIFIC AND THAT WE COULD WE
WOULD LOVE TO HAVE THAT -- SIR
GOOD AFTERNOON FIRST.
I'M VERY SYMPATHETIC TO THE FACT
THAT YOU ALL.
ARE HAVING TO FACE THE THREAT.
OF A DOWNGRADE PLEASE STATE YOUR
NAME MY NAME IS MICHAEL J. GARY.
I I BELIEVE THAT I'M THE ONLY
PERSON IN THE ROOM THAT'S
ACTUALLY TRIED.
A WHILE FIRED PRUDENT SEE CASE
BEFORE THE CPUC AND PREVAILED.
BACK IN.
EARLY TWENTY SEVENTEEN AND I
CURRENTLY REPRESENT.
A CALIFORNIA UTILITY CUSTOMERS
IN THE WILD FIRE SUPREME COURT
CASE IN WHICH WE FOUND A BRIEF.
WHEN YOU HAVE TO RESPOND TO
SOMEONE SAYING?
THAT THEY'RE GOING TO LOWER.
THE CREDIT RATING AND POSSIBLY
DRIVE THE UTILITIES INTO
BANKRUPTCY.
AND SHUT OFF.
THE ELECTRICITY.
ASKING YOU A LOT. TWO TO ONE OF
THINGS I WANT TO GIVE YOU
COMFORT ON IS IF THE IF
UTILITIES GOING TO BANKRUPTCY
THEY CANNOT USE BANKRUPTCY UNDER
BANKRUPTCY LAW. TO TURN OFF
SERVICE ABSOLUTELY CARDINAL.
PRINCIPLE OF LAW.
ASSEMBLYMAN HOLDEN I I HAVE TO
RESPECTFULLY DISAGREE WITH YOU.
WHEN YOU SAID YOU'VE BEEN
WORKING ON THIS FOR THREE YEARS?
WHEN OUR OFFICE DISCOVERED THAT
THERE WAS SYSTEMATIC FAILURE ON
THE PART OF THE CPC TO ENFORCE
FIRE SAFETY RULES?
IT WAS NOT AN EXPANSION OF THE
FIRE SAFETY STAFF WHICH WE URGED
OVER AND OVER AGAIN.
AFTER HAVING GONE THROUGH THE
TWO THOUSAND SEVEN FIRES.
WE WENT TO ASSEMBLYMAN HOLDERS
OFFICE.
AND WE ASKED HIM LAST YEAR
PLEASE DON'T WASTE YOUR TIME AND
REGIONALIZATION PLEASE COME BACK
AND FOCUS ON FIRE SAFETY.
AND WE WERE TOLD -- WILL DO BOTH
AND WE DIDN'T DO BOTH WE WASTED
ALL THAT TIME.
I WANT TO TALK ABOUT SPECIFIC
PROVISIONS.
WE NEED TO COMMIT THE STATE OF
CALIFORNIA TO STOPPING THE WILD
FIRES CAUSED BY THE UTILITIES
PERIOD.
WE ABSOLUTELY MUST DO THAT AND
WE CAN'T DO THAT BY STRICT
ENFORCEMENT.
STRICT ENFORCEMENT MEANS WE
EXPAND THE ENFORCEMENT DIVISION.
NOT CREATE A NEW ONE WE ALREADY
HAVE A SAFETY ENFORCEMENT
DIVISION IN THE CPUC.
BUT WE NEED TO EXPAND IT.
WE NEED TO STRENGTHEN THE
REQUIREMENTS WE NEED TO CREATE
SOME CRIMINAL PROVISIONS.
RIGHT NOW ANYONE IN THE STATE OF
CALIFORNIA THAT OPERATES AN
INHERENTLY DANGEROUS MACHINE.
SUCH AS THE AND THIS INDUSTRY.
HAS STRICT LIABILITY NOT USED
INVERSE CONDEMNATION BUT THEY
HAVE STRICT LIABILITY WHY
BECAUSE THERE IS SO MUCH
POTENTIAL DAMAGE DONE.
IF YOU DON'T DO IT THE RIGHT WAY.
AND THE UTILITIES THEY ARE A AND
TO THEIR CREDIT THEY ARE A RATE.
GENERATION MACHINE.
THAT'S WHAT THEY'RE SET UP FOR
THEIR IS SET UP FOR LOBBYING
THEIR SET UP FOR BILLING.
THEY GO THROUGH ALL THE CPUC
PROCEEDINGS THEY WORK THE SYSTEM
WITH THE EX PARTE COMMUNICATIONS
AND ALL THE REST OF IT.
BUT WHAT THEY ARE NOT IS THEY
ARE NOT SET UP TO FOCUS ON FOR
FIGHTING SAFE ELECTRICITY
SERVICE.
LET'S BRING IN NEW MANAGEMENT
FROM CAL FIRE.
LET'S BRING FORMER CAL FIRE
PEOPLE AND PUT THEM IN CHARGE.
LET'S SITE PEOPLE FOR OF
SYSTEMATIC VIOLATE STATE THIS
SITE THE I. O. U.'S FOR
SYSTEMATIC VIOLATIONS OF THE
GENERAL ORDER NINETY FIVE SAFETY
PROVISIONS.
IF YOU DO THAT YES THERE'S GOING
TO BE A DOWNGRADING.
BUT I GET THE INSTITUTIONAL
INVESTOR ANALYSTS CALLING ME ALL
THE TIME.
AND I TELL THEM YOU MUST TELL
THE UTILITIES TO CHANGE THEIR
MANAGEMENT PRACTICES PERIOD
YOU'VE GOT TO CHANGE AND IF YOU
CAN CAN CALL COMBINED WITH THE
RATE PAYERS.
AND PUT PRESSURE ON THEM THEY'LL
CHANGE THEY WILL CHANGE PLEASE.
THIS IS A GREAT STATE YOU ALL
HAVE AMAZING BACKGROUNDS TO GET
HERE PLEASE STAND UP TO FOR YOUR
STATE.
PLEASE DO WHAT'S RIGHT AND SEND
A MESSAGE TO THE MANAGEMENT OF
THE UTILITIES YOU ARE NOT GOING
TO BUILD THEM OUT BUT YOU'RE
GOING TO HOLD THEM ACCOUNTABLE.
YOU WILL WORK WITH THEM I DON'T
THINK WE SHOULD DO ANYTHING TO
DRIVE PEOPLE INTO BANKRUPTCY AND
THERE SHOULD BE.
A GIVE AND TAKE IF WE'RE GONNA
GET GREATER ENFORCEMENT YES THEN
THEY'LL BE SOME MONEY BUT WE'RE
NOT GOING TO JUST GIVE IT AWAY
RIGHT NOW.
YOU ARE ABSOLUTELY GUARANTEEING
MORE WILDFIRES WHY BECAUSE IF
THERE'S ANOTHER WILDFIRE.
THE RATES AUTOMATICALLY GO UP.
IF THE RATES AUTOMATICALLY GO UP
THEN THEY ROLLED INTO THE BONDS
AND THE BONDS WILL FORD ALL THE
WAY OUT YOU BE ISSUING BONDS ALL
THE WAY UP TO TWENTY THIRTY FIVE
AND THE UTILITIES WILL NOT
CHANGE ONE IOTA.
THANK YOU VERY MUCH FOR YOUR
COURTESY AND YOUR ATTENTION
THANK YOU FOR YOUR COMMENTS
THANKS FOR BEING HERE.
WE KNOW THAT YOU CAME FROM FAR.
TO TESTIFY.
I ANYONE ELSE IN OPPOSITION.
DR JEAN NELSON WITH CALIFORNIA'S
FOR GREEN NUCLEAR POWER
INCORPORATED FOR AN INVENTOR
BEFORE THE P. YOU SEE AND I
WOULD REALLY LIKE TO REFRESH
YOUR MEMORY ABOUT ONE ITEM LACK
OF OVERSIGHT.
AND HOW THAT WAS IDENTIFIED AS A
KEY FACTOR BY THE NATIONAL
TRANSPORTATION SAFETY BOARD IN
THEIR EVALUATION OF THE OF THE
SAN BRUNO PIPELINE EXPLOSION.
THEY SAID THE P. YOU SEE WAS A
LACKS REGULATOR THIS IS WHAT
REALLY NEEDS TO CHANGE HERE WE
NEED MORE ENFORCEMENT NOT MORE
COMMISSIONS NOT MORE MEETINGS IN
SECRET WE NEED.
MORE ENFORCEMENT GEO NINETY FIVE
WAS ESTABLISHED IN THE EARLY
NINETIES AND THAT'S THE WAY WE
SHOULD BE GOING THANK YOU.
ANYONE ELSE IN OPPOSITION.
OKAY -- WE'RE GONNA GO NOW TO
OUR THE MISTER WEITZMAN.
STEVE WEISSMAN -- THE AT THE
REQUEST OF SOME MEMBERS -- IF
YOU CAN -- LIMIT YOUR
PRESENTATION FIVE MINUTES SIR IF
YOU COULD.
SO SAY THE MOST IMPORTANT THINGS.
IF YOU COULD PLEASE.
WE APPRECIATE YOU BEING HERE FOR
THIS THANK YOU FOR INVITING ME.
I THINK IT IS YEAH THAT IS
SERVICE.
SENATORS IT IT WOULD BE
WONDERFUL IF WE COULD SIT HERE
TODAY AND AND SAY WITH
CONFIDENCE WHEN THAT NEXT.
CATASTROPHIC WILDFIRES WILL
OCCUR THAT'S TRIGGERED BY
UTILITY EQUIPMENT.
WE CAN'T DO THAT BUT HERE'S WHAT
WE DO KNOW.
IF THE PATTERN THAT WAS
ESTABLISHED OVER THE LAST TWO
YEARS WERE TO CONTINUE.
INTO THE FUTURE IF WE DO HAVE
LIABILITIES OF THE MAGNITUDE
THAT WE'VE SEEN IN THE LAST TWO
YEARS CONTINUING GOING FORWARD.
THEN WILL QUICKLY GET TO A POINT
WHERE WE'RE AND OF COURSE THAT'S
UNSUSTAINABLE FOR RATEPAYERS.
AND IT'S UNSUSTAINABLE FOR
SHAREHOLDERS OF THE UTILITIES AS
WELL AND LET ME TRY [inaudible]
TO FAIRLY BRIEFLY.
EXPLAIN WHY SAYING THAT.
I'VE HANDED OUT SOME SLIDES TO
YOU TO KEEP THINGS MOVING IF YOU
MOVE TO THE FOURTH SLIDE IT
SHOWS US FROM RED IMPROVE OUR
GRASS.
THE THE BLUE -- BUYERS AND THIS
GRAPH SHOW WITH THE A PATTERN OF
RATE INCREASES -- FOR
RESIDENTIAL CUSTOMERS.
HAVE BEEN OVER THE LAST TEN
YEARS.
FOR A FOR P. JEANNIE TO USE THEM
AS AN EXAMPLE THE THE THE
CURRENT -- THE CURRENT AVERAGE
BILL FOR RESIDENTIAL CUSTOMERS
ACROSS ONE HUNDRED TWELVE
DOLLARS.
THE RED BARS HERE INDICATE.
WHAT THE TYPE OF INCREASE IT TO
THE AVERAGE BILL WE TEND TO SEE
A YEAR IN YEAR OUT BASIS IF WE
HAVE TO CONTINUE?
TO HAVE THE UTILITY OF FLOOD
MINDS. TO IN PAY BACK --
WILDFIRE ACOSTA OVER A FIFTEEN
OR TWENTY YEAR PERIOD AS YOU CAN
SEE THE IN THE READ THE AMOUNT
THAT WOULD.
THAT WOULD BE ADDED TO THE BILL
AS RESULT OF WILDFIRES WOULD BE
WHICH IS ENTIRELY DWARF WHAT WE
NORMALLY WOULD EXPECT IN TERMS
OF RATE INCREASES.
IF YOU LOOK AT THE FOLLOWING
GRAPH.
I'VE DONE SOMETHING WHICH IS A
LITTLE BIT MORE REALISTIC WHICH
IS.
TO PILE THE RED BRED BUYERS ON
TOP OF THE BLUE BECAUSE WE'RE
GOING TO CONTINUE TO SEE RATE
INCREASES. FR THE USUAL REASONS
THE UTILITIES HAVE TO RATE
INCREASES IF WE ADD ON TOP OF
THAT.
THE THE AMOUNTS THAT COULD OCCUR
WITH WELFARE LIABILITIES.
YOU CAN SEE THAT WITHIN A IN
THIS ILLUSTRATION SIX OR SEVEN
YEARS YOU'VE ACTUALLY DOUBLE THE
BILL -- FOR RESIDENTIAL
CUSTOMERS.
THE THE PROBLEM WITH WITH THIS.
THE SCENARIOS IF YOU MOVE TO THE
NEXT GRAPH IT IS THAT WE'RE
ALREADY ON A COURSE TO FIRE X.
FAR EXCEED.
WHAT LOOKED LIKE THE NORMAL KIND
OF RATING CURSES WOULD OCCUR
OKAY I CAN A TRIP TO FOR A
SECOND ABSOLUTELY -- HERTZBERG
WANTS TO MAKE SOME -- CLAIRE
FARMER MY I JUST EAT YOU WE THE
MEMBERS OF THE COMMITTEE HAVE
THIS THESE DOCUMENTS THAT YOU
GAVE THAT ARE QUITE INSTRUCTIVE
YES SHOWING THAT THE RATES OF
THE BILL'S GOING UP BETWEEN A
HUNDRED TWELVE DOLLARS TO TWO
AND TWELVE DOLLARS THE NEXT
PAGES SHOWING THE SAME NUMBERS.
CAN YOU JUST EXPLAIN THAT FOR
THE POPE THE THIRTY TWO MILLION
PEOPLE ARE WATCHING THISAND
THIS AUDIENCE TODAY AND FOR THE
PEOPLE HERE.
THANK YOU.
YES IT IT.
IF THIS IS A CLASS I USUALLY
DON'T GET TO TALK TO BUT I WAS
KIND OF HOPING IT WOULD BE THE
USUAL PROJECTOR WHERE I COULD
SHOW THIS TO EVERYBODY.
BUT SO WHAT WHAT THAT WOULD HAVE
DONE IN THIS VIRUS IS -- TO IS
TO FIRST IS HAVE BEEN ACROSS THE
BOARD FOR P. GINNY OVER THE LAST
SEVERAL YEARS THOSE ARE
INDICATED.
IN BLUE AND THE FIRST PARAGRAPH
AND IN THE WHAT I'VE DONE IN RED
IS TO SAY OKAY LE IF THE UTILITY
WERE TO FACE A TEN TO FIFTEEN
BILLION DOLLAR ADDITIONAL.
LIABILITY DO A UTILITY TRIGGERED
FIRE AN ANNUAL BASIS AND IF
THESE CUTS WERE THE PASS THROUGH
A TO THE RATE PAYERS THAT YOU
WOULD SEE.
APPROXIMATELY OF A A 10%
INCREASE.
IN THE RATES OF AN ANNUAL BASIS
AND COURSE THOSE.
THOSE CONTINUE TO COMPILE A TOP
OF EACH OTHER I WOULD HAVE DONE
THE SECOND SET A PROGRESS IS TO
pWHEN I SHOWED IN BLUE YOU'D
EXPECT THAT TO HAPPEN ANYWAY
YOU'RE GOING TO CONTINUE TO HAVE?
BUSINESS AS USUAL RATE INCREASES.
BUT ON TOP OF THAT IF YOU HAVE
THE WILD FIRE LIABILITIES YOU'RE
GONNA HAVE AN EXTRAORDINARY
IMPACT.
AND AN OVERALL RATE SOMETHING TO
FRANKLY WOULD NEVER STORE COOLEY
SEEN IN PROPORTIONS LIKE THIS.
NOW IS THE THE GRAPH TO FOLLOW
SO WHICH IS SOMETHING IS
CONTRIBUTED TO ME BY THE PUBLIC
ADVOCATE'S OFFICE AT THE PC --
SHOWS THAT WERE ALREADY ON A
COURSE -- FOR INCREASES JUST
WITHIN THE NEXT YEAR THAT COULD
BE AS GREAT AS THE INCREASES ON
AVERAGE SO WE SAW OVER THE LAST
TEN YEARS.
A BECAUSE SAID P. JEANNIE SO OF
PENDING GENERATE CASE AND A
REQUEST INCREASE ITS RETURN ON
EQUITY BECAUSE OF THE ADDITIONAL
RISK IT'S PERCEIVING DID AWHILE
FIRES.
A AND IN THIS SHOWS THAT -- IN
IN YELLOW IF THE IF THE BOTH
THOSE REQUESTS ARE GRANTED YOU
COULD HAVE AN INCREASE.
OF OF THE TWENTY THE TWENTY FOUR
UP TO TWENTY FOUR CENTS PER
KILOWATT HOUR ON AVERAGE FROM
ABOUT TWENTY CENTS ON AVERAGE.
JUST IN ONE YEAR [inaudible]
IF THE IF THE A REQUEST FOR
INCREASING RETRAIN EQUITIES NOT
GRANTED THEN THE BLUE LINE --
WOULD APPLY BUT EITHER WAY.
THESE RATE INCREASES IN ONE YEAR
WOULD BE AS GREAT AS THE
CUMULATIVE.
AVERAGE RATE INCREASES THAT WE
pDECADE SO WE'RE ALREADY ON
COURSE. FOR DRAMATICALLY HIGHER
UTILITY RATES IF YOU LOOK AT THE
GRAPH TO FOLLOWS A SUPERIMPOSED
A LINE ON TOP OF THE BAR GRAPHS
TO SHOW YOU.
THE WHAT THE TRENDS WOULD LOOK
LIKE.
CONSIDERING THE REQUESTED PGD IS
MADE FOR RATE INCREASES THIS
YEAR SO WE'RE WE'RE ON TRACK --
FOR FOR VERY DRAMATIC READING
CREASES -- THEY'VE THE MUCH
WORSE OF COURSE -- IF -- IF WE
WERE TO GET TO A POINT.
WHERE WE HAD TO COULD CONTINUE
TO PASS ON?
A CONSIDERABLE WILDFIRE
LIABILITY SO WE CAN PASS IT IN
THE FOR THE SAKE OF TIME.
MANY OF THESE OTHER -- GRASS AND
LET ME JUST GO BACK TOWARD THE
BACK OF THE PACK.
NOW WE'RE TALKING ABOUT THE
SECOND PROBLEM THE FIRST PROBLEM
IS IT P. GENIES RATES ARE GOING
TO GO UP ANYWAY.
THE SECOND PROBLEM IS THAT
UTILITIES ARE NOT GOING TO BE
ABLE TO CONTINUE TO BORROW MONEY
YEAR AFTER YEAR TO SPREAD OUT
THE COST OF WILD.
I THOUGHT IT SAID THERE AREN'T
ANY NUMBERS ANTICIPATED JUST.
SHOWS A PROBLEM NUMBER TWO AND
WILL IMMEDIATELY MOVE TO THE
NEXT NEXT SHEET.
THE THE YES IF YOU MOVE TO THE
NEXT PAGE AFTER THAT THE THE
TABLE TO YOU SEE HERE IS PREVENT
PROVIDED BY THE PC.
IT SHOWS WHAT THE USUAL.
RATIO IS BETWEEN AT THE
UTILITIES.
DEBT AND IT'S EQUITY THE AMOUNT
OF MONEY IT GETS FROM
SHAREHOLDERS FOR SYSTEMATIC
MONEY.
THAT IT BORROWS A IN THE THE
USUAL RULE OF THUMB IS THE ONE
TO SEE SOMETHING CLOSE TO PARITY
BETWEEN THE RELIANCE AND THAT.
AND THE RELIANCE ON EQUITY.
PRIOR TO THE IF YOU HAD EXACT
PARITY THEN YOU'D HAVE A RATIO
OF ONE POINT NO.
PETER YOU NEED FOR A FOR A IT
STARTED MOVING TOWARD BANKRUPTCY
WAS FAIRLY CLOSE TO THAT AHEAD
OF A RACIAL POINT.
NINE AND THEN DIALED A DRAMATIC
AMOUNT OF MONEY TO PREPARE
ITSELF TO GO INTO BANKRUPTCY.
IN A RATIO WENT FROM POINT NINE
UP TO ONE POINT.
SEVEN THE HEALTHY RANGE YOU
EXPECT TO SEE A RANGE SOMEWHERE
IN THE POINT SIX TO ONE POINT OO
A RANGE.
AND SO IF THE UTILITIES HAVE TO
DIRECTLY BORROW MONEY YEAR IN
AND YEAR OUT IN ORDER TO PAY FOR
WELFARE LIABILITIES THEN QUICKLY
GET TO A POINT WHERE THEY WOULD
APPEAR TO BE AN UNHEALTHY. TOO
RISKY INVESTMENT AND THAT WOULD
RAISE AGAIN THE COST OF OF OF
BORROWING MONEY IT ALSO WOULD
ATTEND. TO TWO BECAUSE INVESTORS
AND INSURE STOCK. TO TO SHY AWAY
FROM THE COMPANY SO -- SO THAT
THAT'S WHERE WE WOULD BE IF WE
JUST WOULD ALLOW.
THE UTILITY SIXTEEN OF OUR MONEY
A YEAR IN AND YEAR OUT IN THAT
WAY THIS IS ONE OF THE REASONS.
THAT PEOPLE TALK IN TERMS OF
SECURITAS SING OF THE MONEY THAT
UTILITY HAVE TO BORROW A WHERE
INSTANTLY YOU WOULD HAVE
ACTUALLY A DEDICATED COMPONENT
ON UTILITY RATE.
THAT WOULD COVER THE COST FOR
PARTICULAR ASSET OF BINDS.
I AND THAT'S CONSIDERED TO BE
SOMETHING THAT WOULD HELP
UTILITY FROM ACTUALLY HAVING TO
IMPACT ITS DEBT EQUITY RATIO OF
FORD'S NORMAL BUSINESS HOWEVER
EVEN THAT CANNOT BE
INEXHAUSTIBLE.
YOU CAN'T DO THAT YEAR IN AND
YEAR OUT I CAN'T TELL YOU
EXACTLY.
WHEN YOU REACH THE TIPPING POINT?
BUT THIS IS SOMETHING THAT
CANNOT BE SUSTAINED IN TERMS OF
CONTINUING TO BORROWMONEY SO
WHAT ARE THE IMPLICATIONS OF ALL
OF THIS.
LOOKING AT THE SHEET WITH THE
NUMBERS ONE THROUGH FVE WHICH
IS -- FOR A THIRD FROM THE END.
OF THE PATH.
THE AND NOW IT IF IF THE RATES
GO UP IS SIGNIFICANTLY AS WE'RE
TALKING ABOUT HERE.
OF COURSE PEOPLE ARE GOING TO DO
TWO THINGS ARE GOING.
TO FIND WAYS TO REDUCE THE
AMOUNT OF POWER THAT THEY'RE
USING FROM THE UTILITIES.
NUMBER ONE AND NUMBER TWO AND
THEY'RE GONNA TRY TO AVOID AND
CHANGING TO THINGS SUCH AS
ELECTRIC VEHICLES OR
ELECTRIFYING A HOME -- THAT.
WOULD OTHERWISE OCCUR BECAUSE
THE THE RATIO OF GASOLINE PRICES
TO ELECTRIC PRICES OR NATURAL%
GAS ELECTRICITY IS GOING TO
CONTINUE TO LOOK AND FAVORABLE
I'M SURE THAT COMMITTEE MEMBERS
ARE GOING TO HAVE LOTS OF
QUESTIONS FOR YOU SURE.
YOU CAN -- HANG AROUND YEAH
ABSOLUTELY GARY IT'S POSSIBLE
THAT.
MEMBERS OF THE COMMITTEE MAY
HAVE QUESTIONS FOR YOU SO IF YOU
WANNA STICK AROUND AS WELL.
THAT ASK YOU TO PROBABLY -- FOR
THE MOMENT JUST STEP STEP ASIDE
TO LET -- SUPPORTING STAFF
COMMENDED PROVIDED FOR BY
SUPPORT FOR THE MEMBERS
PRESENTING BUT IF IF -- WE DO
COME MAN I WANT ONE SEAT AT
LEAST TO BE MET REMAIN VACANT SO.
SO MEMBERS OF THE THE US OUT
THAT HAVE PROVIDED -- TESTIMONY
TODAY.
CAN ANSWER QUESTIONS OF THE
COMMITTEE.
AND NOW WILL COME TO MEMBERS OF
THE COMMITTEE FOR QUESTIONS THAT
YOU WANT TO ASK HIM GO AHEAD ASK
HIM -- ARE.
YOU NEVER REFERENCE THE BILL SO
ARE THESE GRAPHS.
OUR REFLECTION OF WITH OR
WITHOUT THE BILL THAT'S BEFORE
US THIS IS A HEARING ON A
PARTICULAR PIECE OF LEGISLATION
YOU NEVER REFERENCE STATE.
ARE THESE GRAPHS RELEVANT
REGARDLESS OF WE PASS OR DID
THEY MODIFY IF WE PASS THIS BILL.
THE EVENT TRY TO PURPOSELY STEER
CLEAR OF A OF BEING HERE TO
ENDORSE ARE NOT ENDORSE THE BILL
ITSELF AND JUST PROVIDE
BACKGROUND INFORMATION.
MAN I ASK FOR YOUR EARLY BELT
WHETHER THESE GRAPHS ARE
IMPACTED ALL BY THE PASSAGE OF
THIS BILL YES IF YOU LOOK AT
LOOK AT THE GRAPH THAT.
THAT -- START ON THE FOURTH PAGE
THE THE IN READ SHOW THE
POTENTIAL INCREASES COMING UP
FROM REPEATED WILD FIRES --
THOSE.
WOULD BE.
THE SAME FOR A FOR RATE PAYERS --
WHETHER.
THERE'S A THERE'S A
SECURITIZATION -- IT'S THE BILL
WOULD WOULD ALLOW FOR OR WHETHER
THERE WAS A STRAIGHT EFFORT TO
BORROW.
BORROW MORE FUNDS A SO SO THE SO
TO THIS EXTENT OF THE THE GRASS
WITH WITH THE SAME.
WITH OR WITHOUT THE BILL WHEN
YOU START TO CONSIDER -- THE
IMPACTS ON THE FINANCIAL STATUS
OF THE UTILITY.
MY UNDERSTANDING IS THAT.
THE BILL'S SECURITIZATION
PROVISIONS WOULD PROBABLY BY THE
UTILITY SOMETIME IN THE BE ABLE.
TO TO CONTINUE TO BORROW MONEY
FOR A WHILE BECAUSE THEY WOULD
HAVE A GUARANTEED WAY TO PAY OFF
THOSE PARTICULAR.
METICULOUS -- OF BANDS BUT AGAIN
IT'S NOT INEXHAUSTIBLE.
OKAY A CENTER STERN.
AMOS CHAIR I KNOW WE WANT TO
MOVE ON TO THE BILL IN CHIEF I I
JUST WANT TO GET THE SAME
CLARITY I THINK THAT MY
COLLEAGUE WAS SEEKING
[inaudible]
PROFESSOR SO.
THE THE RED BARS.
ON TOP OF THE BLUE YES.
IS WHAT HAPPENS TO UTILITY BILLS.
IF WE DON'T PASS ANY LEGISLATION
THIS IS THAT'S BUSINESS AS USUAL
SCENARIO WITH THOSE SORT OF
PROJECTED LOSSES RIGHT.
THAT READ THAT INCREASE THE THE
IF IF THERE ARE DO NOTHING TODAY
AND IF WE WANT OF THAT I WILL
COMBINE INCREASE THAT IF IT IF
WE WIND UP HAVING.
WILD FIRES LIKE WE DID THE LAST
TOUR ASSUMING WE HAVE THE SAME
KINDS OF WILDFIRES IT HAD FOR
THE PAST FEW YEARS.
THE THE BIG JUMP IN UTILITY RATE
INCREASES ARE FROM WHAT WOULD
HAPPEN WITHOUT THIS LEGISLATION
[inaudible]
NO.
WHAT WERE?
YOU THERE OR IF IT'S REASONABLE.
MY SENSE WAS THAT THIS IS A
BUSINESS AS USUAL PROJECTION.
THIS IS A BUSINESS AS USUAL
PROJECTION YES YES OKAY SO
REGARDLESS OF THE BILL THIS IS
GOING TO HAPPEN.
NOT.
IF IF WE WILL CONTINUE HAVE WILD
FIRES IT IS THE RIGHT WE HAVE
THE LAST COUPLE OF YEARS.
AND IF THOSE COSTS ARE PASSED ON
THE RATE PAYERS YES.
BUT THAT BUT THAT STILL DOESN'T
ANSWER THE QUESTION YOU SO I
ASKED DID ORIGINALLY AND THEN
HENRY ASKED FOR THE
CLARIFICATION.
DO THESE GRAPHS.
ARE THEY MODIFIED AT ALL FROM
YOUR POINT OF VIEW IF WE PASS
THIS BILL OR THESE GRAPHS GOING
TO STAY THE SAME REGARDLESS.
OF THIS BILL'S PASSAGE.
MATT AMANDA SENTENCES REMINDING
ME THAT THE BILL ACTUALLY.
WOULD TEMPER THIS TO SOME EXTENT
BECAUSE YOU HAVE THE FUND -- BUT
IT HAS THE UTILITIES HAVE TO
REPAY THE FUND THEY HAVE TO GET
THAT MONEY FROM SOMEWHERE AND SO
THAT.
THE QUESTIONS ARE GOING TO BE
HOW HOW THAT WILL ULTIMATELY.
CONTRIBUTE TO RATE INCREASES
SUCH LATER IF WE COULD MAYBE
WITH WE ALLOW OUR TECHNICAL
SUPPORT THE TO RESPOND I THINK
IT WILL BE CLEAR THAT THESE.
ARE COSTS ARE GOING TO HAVE THE
KIND OF IMPACT IT'S BEING
DESCRIBED.
IF IF I UNDERSTAND CORRECTLY AND
DOCTOR WISEMAN CORRECT ME IF I'M
WRONG USUALLY THIS IS TO THE
MIKE SORRY -- CORRECT ME IF I'M
WRONG BUT THIS IS ILLUSTRATING
WHAT WOULD HAPPEN IF COST
RECOVERY WERE ALLOWED ON DAY.
ONE AND IF THE WILDFIRES
CONTINUE AT THE CURRENT RATE SO
IT'S ASSUMING COST RECOVERY --
YOU KNOW SIMILAR TO YOU BUT IT
IT'S WE CONSUMING MEDIA COST
RECOVERY THAT'S ASSUMING THAT
THE RISK IN THE SIZE OF
WILDFIRES CONTINUE.
ON THOUGH THE MEASURE THERE
WOULD BE NO COST RECOVERY ON DAY
ONE THAT THE FUND WOULD PROVIDE
UP TO FORTY BILLION DOLLARS OF
CLAIMS CLAIMS PAYING RESOURCES --
THOSE RESOURCES OF THE TEN AND A
HALF BILLION DOLLARS A WILL COME
WITH UTILITIES COULD NOT BE
RECOVERED FROM -- REPAIR A FROM
REPAIRS THE THE ADDITIONAL CAP
ON THE PAY OUTS WOULD PROVIDE
ADDITIONAL CLAIMS BEING
RESOURCES WITHOUT A DIME FROM
RATEPAYERS.
THE TEN AND A HALF BILLION
DOLLARS A COME FROM RAY PERSONS
FROM CONTINUATION OF CHARGES
THAT FOLKS ARE CURRENTLY PAYING.
DURING THAT PERIOD THAT WOULD BE
THE BENEFIT OF THE FIVE BILLION
DOLLARS PLUS OF INVESTMENTS IN
HARDENING THE INFRASTRUCTURE AS
WELL AS THE TIME FOR THE
INVESTMENTS OF THE STATE IS
MAKING RELATIVE TO REDUCING THE
RISK AND FREQUENCY OF WILDFIRES.
SO THAT THE NOTION HERE IS
THERE'S FORTY MILLION DOLLARS OF
OF CLAIMS PAYING RESOURCES TO
PROVIDE THE BRIDGE FOR THE
MITIGATION EFFORTS TO COME INTO
EFFECT. TO MAKE IT SO THAT THESE
RATE INCREASES THAT WOULD GO
INTO EFFECT IF COSTS ARE BEING.
PASSED ON IN WILDFIRES CONTINUE
AT THAT RISK WOULD NOT OCCUR SO
THIS IS THE STATUS QUO SCENARIO.
UNDER THE MEASURE THAT WOULD BE
THE FUN PROVIDING CLEAN FRAME
RESOURCES.
THERE WOULD BE THE INVESTMENTS
IN MITIGATION AND ON HARDENING
AND OTHER ELEMENTS TO REDUCE THE
RISK -- TO TO ENSURE THAT THERE
THERE ARE CLAIMS PAYING
RESOURCES BUT WITHOUT THE
NEGATIVE IMPACTS ON REPAIRS THAT
WOULD HAPPEN UNDER CURRENT LAW.
BUT JUST TO PUT A FINER POINT I
APPRECIATE THE DETAIL.
THIS IS A BUSINESS AS USUAL
SCENARIO BEING PROJECTED.
THAT WOULD BE SIGNIFICANTLY
MITIGATED.
UNDER YOUR UNDERSTANDING OF THIS
TEN FIFTY FOUR FRAMEWORK FOR THE
RED.
GETS CHOPPED DOWN AND THE ONLY
QUESTION IS HOW MUCH DOES THE
ACTUALLY GET CHOPPED DOWN IS
THAT A FAIR.
SUMMARY YES AND ALSO CAN INTO
THE MODEL YEAH YOU CAN AND SORRY
YES THAT THAT IS A FAIR SUMMARY
AND THEN THE PIECES ALSO THAT
HOW LONG DOES IT TAKE FOR THE
MITIGATION TO AFFECTS OF THE RED
DOES NOT HAPPEN AT ALL.
RIGHT BECAUSE THE UNDERLYING
ASSUMPTION OF BUSINESS AS USUAL
IS BASICALLY A DOOMSDAY SCENARIO
OF CATASTROPHIC WILDFIRES AFTER
CATASTROPHIC WILDFIRES TO
CATASTROPHIC WHAT FOR THAT'S
THAT'S THE BASIS OF YOUR
ASSUMPTION CORRECT PROFESSOR YES
OKAY.
THANK YOU -- WE'RE GONNA SENATOR --
WE HAD -- WITH CENTER HERTZBERG
AN OF MORE LIKE IT'S FIRST IN
HERTZBERG [inaudible]
RUBIO.
THANK YOU MISTER WELCOME BACK.
I'M.
JUST TRYING TO KEEP THE SHOW
BRIEF -- THAN A REVIEWING THE
FINANCIAL STATEMENTS FOR P.
JEANNIE -- THEY'VE ADDED SOME
THIRTY FOUR BILLION IN
LIABILITIES TO THEIR BALANCE
SHEET.
FOR THE TWENTY SEVENTEEN TWENTY
EIGHTEEN FIRES IN THEIR VICTIMS
AND SO TRYING TO FIGURE OUT HOW
IS THAT PAID OFF -- THEY
GENERATE ABOUT. SEVENTEEN
BILLION A YEAR IN REVENUES AND
ABOUT TWO BILLION A YEAR AND NET
INCOME.
WHICH HALF OF THAT GOES TO
DIVIDEND SO THEY'RE JUST A
LITTLE BIT OF PLAYING ROOM HERE --
WHEN YOU WHEN YOU HAVE A UTILITY
YOU'RE YOU'RE YOU'RE LIMITED ON
WHAT YOU CAN CHARGE?
SO I'M TRYING TO FIGURE OUT --
ONE YOU KNOW HOW HEY PAY OFF
THE VICTIMS WHICH THEY COULD DO
THROUGH A THIRTY YEAR.
DAD I'M SURE AND THEN THAT WOULD
COST THEM OF ABOUT ONE POINT TWO
ONE POINT THREE BILLION A YEAR.
GET A GOOD INTEREST RATE. TO PAY
THEM OFF SO THAT DOESN'T LEAVE
MUCH ROOM WITH NET INCOME TO
HAVE CASH FOR OTHER THINGS I'M.
I'M TRYING TO FIGURE OUT HOW
WOULD THEY PARTICIPATE IN THE
FIVE BILLION DOLLARS OF
INFRASTRUCTURE IMPROVEMENTS.
HOW WOULD THEY PARTICIPATE IN?
MAKING CONTRIBUTIONS TO THE FUND.
AND THEY HAVE TO BE NEUTRAL WITH
TACT WITH RATE PAYERS AND THEY
HAVE TO KEEP THEIR EMPLOYEES SO
I'M.
I'M SEEING ALL KINDS OF TOP WALL
SO MAYBE I COULD ASK YOU THE
SAME NUMBER HOLDEN HOW HOW IS.
HOW IS UTILITY GOING?
TO FULFILL WHAT WE'RE ASKING
THEM TO DO WITH THIS BILL.
WELL A RIB REMEMBER THAT P.
JEANNIE CURRENTLY IS IN
BANKRUPTCY AND SO THEY HAVE TO
GO THROUGH A PROCESS OF BEING
ABLE TO GET.
A PLAN IN PLACE THAT ALLOWS THEM
TO MOVE FORWARD AND ULTIMATELY
BE ABLE TO PARTICIPATE IN THIS
FUND -- I THINK THAT THE
EXPECTATION IS THAT.
AS THE THE GENIE REPRESENTING
MAYBE.
IT YET AS A MEMBER HOLDEN I
THINK -- NANCY -- AT THE
MITCHELL CAN ANSWER HAT
QUESTION -- AND MAYBE PROVIDE
SOME INSIGHT IF THAT'S OKAY.
SO I AM NANCY MITCHELL FROM A
MOMENT IN MYERS FOR THE
ADMINISTRATION.
I'M WITH REGARD TO YOUR QUESTION --
CENTER MY LACKEY THE BANKRUPTCY
PROCESS WILL RESULT IN SOME RE
CAPITALIZATION OF P. JEANNIE.
AND THAT WILL BE DONE THROUGH
THE BANKRUPTCY PROCESS UNDER THE
AUSPICES OF BANKRUPTCY COURT.
I WOULD EXPECT THAT THAT MAY
REQUIRE EITHER A SIGNIFICANT
INVESTMENT BY THE SHAREHOLDERS
TO SORT OF BY FUTURE.
PROFITS OR A RE CAPITALIZATION
OF THE COMPANY IN WHICH THE
EXISTING DEBT MAY BE TURNED INTO
EQUITY IN ORDER TO PROVIDE THE
ROOM THAT YOU'RE TALKING ABOUT
FOR THE INVESTMENTS.
SO I THINK IF THERE A LOT OF
OPPORTUNITIES IN THE BANKRUPTCY
CONTEXT TO RECAPITALIZE IN A WAY
THAT WILL ALLOW THEM TO DO THAT.
SO WE RE CAPITALIZE WE'RE GONNA
DILUTED SHARES TO THE CURRENT
SHAREHOLDERS AND WE'RE GOING TO
CONVERT BONDS TO EQUITY COULD
HAVE BEEN.
THE WE ARE ARE WE ASKING BOND
HOLDERS TO TAKE A HAIR CUT WELL
THE BOND HOLDERS OF ALREADY MADE
A PROPOSAL IN THE BANKRUPTCY
ACTUALLY THAT WOULD ALLOW THAT
TO HAPPEN.
BUT I DON'T THINK YOUR BILL PUTS
THE FINGER ON THAT PARTICULAR
SCALE THERE ARE AT LEAST THREE
WAYS TO EXIT BANKRUPTCY THE
EXISTING EQUITY CAN PONY UP THE
CASH.
THE EXISTING DEBT CAN CONVERT TO
EQUITY OR THE COMPANY COULD BE
SOLD TO SOMEONE ELSE WHO WANTED
TO PAY THE CLAIMS THAT THE
STATUTE REQUIRES THEM TO PAY.
IN ANY OF THOSE CIRCUMSTANCES
THE COMPANY WOULD EXIT UNDER THE
PARAMETERS THAT THE U. OF PUT IN
THE STATUTE.
SO.
MISS MITCHELL I I SEE THE THE
EFFICACY OF THE BILL BUT I SEE
THAT IT TAKES CARE OF TODAY'S
PROBLEMS AND I'M WONDERING.
WHAT WE DO?
WHEN THERE'S AN ENCORE?
WHAT IT HOW DO WE HOW DO WE
SQUEEZE BUT OUT OF A TURNIP BUT
I'M?
THAT'S WHERE I'M KIND OF
SEARCHING FOR FOR REMEDY THE
FROM THE BANKRUPTCY PROCESS THE
JUDGE WILL HAVE TO DETERMINE
THAT THE PLAN IS FEASIBLE THE
FEDERAL JUDGE WILL HAVE TO
DETERMINE THAT THE PLAN IS
FEASIBLE.
WHICH UNDER THE BANKRUPTCY CODE
REQUIRES THE JUDGE TO MAKE A
DETERMINATION THAT IT WILL NOT
BE FOLLOWED BY A SUBSEQUENT
REORGANIZATION.
AND SO THEY WILL HAVE TO PUT A
PLAN IN PLACE THAT PROVIDES ROOM
FOR A FEASIBLE OPTION OF FOR
FEASIBLE OPERATIONS GOING
FORWARD IN ORDER TO EXIT THAT
THE BANKRUPTCY PROCESS AND
THAT'S JUST A REQUIREMENT OF
ELEVEN TWENTY NINE OF THE
BANKRUPTCY CODE -- THE JUDGE
WILL HAVE TO MAKE THAT FINDING
ON A GOING FORWARD BASIS THEY
WILL HAVE TO LIVE WITHIN THE THE
PARAMETERS OF THE STATUTE.
THE THE CHANGES TO THE STATUTE
ALSO PROVIDE THEM SUPPORT IN
TERMS OF THE USE OF THE FUND
DOLLARS.
TO CUT OFF THE RED LINE IS AS
YOU GUYS WERE DISCUSSING EARLIER
AND ASSUMING THAT THE MITIGATION
EFFORTS TO DO TAKE HOLD.
THEIR PLAN WILL BE BASED ON A
HOLISTIC LOOK AT WHAT THEY NEED
TO RECAPITALIZE GOING FORWARD
AND THEY WILL HAVE TO MAKE THAT
CASE TO THE BANKRUPTCY JUDGE.
A BANKRUPTCY JUDGE WOULD.
RESPECT A NEW BILL.
LIKE THIS ONE OR IS THAT I DON'T
REALLY THINK THE FEDERAL JUDGE
HAS ANY CHOICE BUT YES I ALSO
THINK THAT HE WILL IT IS A IT IS
A REGULATORY CONSTRUCT IT IS PUT
IN PLACE BY THE STATE -- HE IS.
TO RESPECT STATE LAW WITH REGARD
TO REGULATORY ISSUES.
THANK YOU MSS MITCHELL THANK
YOU MISTER THANK YOU -- SIR SIR
PLEASE DON'T INTERRUPT THE
PROCEEDINGS PLEASE.
CENTER HERTZBERG THANK YOU IF I
CAN GET THE CABINET SECRETARY N
AMAZON DOES.
FOLLOW UP.
HE COULD FOR A MOMENT.
I CAN PUT A FINER POINT ON THE
FINE POINTS A SINISTER INPUT
ACCORDING TO THIS CHART.
THAT THE PROFESSOR PROVIDED US
FOR THE PUBLIC THE DOESN'T SEE
IT.
BASICALLY TEN YEARS OUT UNDER
HIS -- STATUS QUO SCENARIO THAT
WE DO A DO NOTHING STRATEGY.
THE BILLS FOR P. JEANNIE I WOULD
AVERAGE GO FROM AN AVERAGE OF A
HUNDRED AND FORTY TWO DOLLARS A
MONTH TO TWO HUNDRED FIFTY TWO
DOLLARS A MONTH -- IT WOULD BE
THE INCREASE OF A HUNDRED AND
TEN DOLLARS A MONTH ON AVERAGE
BILLS BASED UPON THE DO NOTHING
SCENARIO.
THE SCENARIOS OUTLINED IN A IN A
BE.
TEN FIFTY FOUR AS YOU CORRECTLY
NOTED I JUST WANNA MAKES MORE
SPECIFICITY ON IT -- REQUIRES
BEFORE ANY OF THE INVESTOR OWNED
UTILITIES HAVE ACCESS TO THIS
INSURANCE FUNDED THEY HAVE TO
INVEST FIVE BILLION DOLLARS AND
SO AS A CONSEQUENCE THERE'S GOOD
ADDITION TO ANYTHING THAT THE
STATE ALREADY DOES.
THIS BILL REQUIRES FIVE BILLION
DOLLARS IN HARDENING BY THE
INVESTOR OWNED UTILITIES SO THAT
THE POTENTIAL RISK OF FIRE WHICH
IS PRESUPPOSED IN THIS CHART.
GOES IS RUDE IS MEDICAID IS THAT
CORRECT THAT'S CORRECT AND
SECONDLY THE OTHER THING THAT IT
DOES IS BY CREATING THIS THIS
FONDA -- IT IT IN INSTEAD OF
HAVING INVESTOR OWNED UTILITIES
UNDER THE CURRENT STRUCTURE OF
OF INVERSE CONDEMNATION CREATES
A FUND HALF WHICH IS CONTRIBUTED
PRESUMABLY BY VIRTUE OF OF THE
QUESTION THAT WAS JUST ANSWERED
OF OF SICK.
OF ADDITIONAL EQUITY PROVIDED BY
THE INVESTOR OWNED UTILITIES
HALF BY THIS BY THE SHAREHOLDERS.
OR OR INVESTORS IN HALF BY RATE
PAYERS.
OF AND THAT THEN FURTHER REDUCES
ANY POTENTIAL RISK OF INCREASE
BECAUSE OUR ON THAT WILL BE
TAKEN UP BY BY THE FUND CORRECT
RIGHT AND FURTHER.
THE UNDER THE FRONT MODEL THAT
YOU STRUCTURED IN A BE UP IN.
THE IN THE MEASURE WAS A FIFTY
FOUR EIGHT TEN FIFTY FOUR WHAT
HAPPENS IS THERE'S A HAIR CUT ON
THE FRONT END SUBROGATION SO
THAT FURTHER TAKES A SMALLER
AMOUNT OF MONEY TO BE ABLE TO
PROVIDE LARGER.
RISK LIVE PROTECTION FOR RISK
LIABILITY IN THE FUND IS THAT
CORRECT ALSO THAT'S GREAT SO YOU
REDUCE THE SIZE OF THE RISKY
REDUCE THE SIZE OF OF FIRE RISK.
YOU'VE CREATED OF A FIREWALL SO
TO SPEAK TO PROTECT RATE PAYERS
AND THE LAST THING I WANT TO
MAKE IN TERMS OF THE MOST RECENT
AMENDMENTS I BELIEVE THAT
OCCURRED WITH RESPECT TO THIS
MEASURE.
IS THAT YOU HAVE PRIORITIZED
SHAREHOLDER MONEY SO THAT IN THE
EVENT THAT THERE IS A HORRIBLE
FIRE THE FIRST MONEY THAT GOES
OUT OF THAT INSURANCE FUND IS
NOT RATE PAYER MONEY BUT A
SHAREHOLDER MONEY CORRECT.
THAT'S CORRECT AND THE TWO
DOLLARS AND FIFTY CENTS ON
AVERAGE THAT WILL BE CONTINUED
FROM TWENTY TWENTY TO TWENTY
FIFTY IS ACTUALLY PAID OUT UNTIL.
AND BONDS ACTUALLY ISSUED UNTIL
THERE'S ACTUALLY DEMAND FOR THE
MONEY.
OF THE BONDS GET ISSUE TO
CAPITALIZE THE FUND THE THE THE
FRONT AND IS GENERALLY THE
EXPECTATION BUT AS YOU MENTIONED
THE FUNDS WOULD BE ADMINISTERED
IN A WAY TO HAVE THE RATE PAYERS
I'M SORRY THE SHAREHOLDER
DOLLARS -- BE PAYING FOR CLAIMS
FIRST WHAT I'M TRYING TO GET TO
IS THE POINT THAT SENATOR STERN
WAS MAKING JUST ADD A FINER
POINT TWO IS FINER POINT.
IS THAT THERE IS A DRAMATIC
DIFFERENCE BETWEEN WHAT THE
STATUS QUO WOULD BE IN THE EVENT
WE CONTINUE TO HAVE FIRES AND WE
CAN DID NOTHING.
VERSES WHAT WE'RE DOING AS A
RESULT OF THIS MEASURE
ABSOLUTELY INCLUDING ALSO THE
FACT THAT THE MEASURE WOULD
PROHIBIT -- UTILITIES FROM BEING
ABLE TO EARN A PROFIT.
IN THE IN WHEN THE ANCHOR THAT
FIVE BILLION DOLLARS IN COST TO
PAY FOR HARDENING AND OTHER
ELEMENTS AND THE VALUE OF THAT
ALONE IS TWO AND A HALF BILLION
DOLLARS IN FOR GONE PROFITS.
WHICH IS A SAVINGS TO REPAIRS
[inaudible]
BERRYHILL -- BY CENTER MCGUIRE.
THANK YOU CHAIR IN THE
CALIFORNIA.
NO I HAVE NEVER.
REVIEWED [inaudible]
THANK YOU.
WELL FIRST OF ALL OUT THANK YOU
EVERYONE FOR BEING HERE BUT I
DON'T WANT TO DISMISS IN ELSE.
THE FOLKS THAT CAME FROM THE
TUBS FIRE IN THE CAMPFIRE I'M
SURE THAT WE SEE IT A LITTLE
DIFFERENTLYTHIS IS PERSONAL TO
THEM SO I JUST WANT TO SAY THANK
YOU FOR COMING HERE AND
EXPRESSING YOUR PERSONAL STORIES
I THINK THAT'S IMPORTANT. TO TO
HEAR THE HUMAN ELEMENT I KNOW WE
MAKE POLICY AND SOMETIMES YOU
DON'T GET TO HEAR THE STORIES
BUT I I'M REALLY ENCOURAGED BY
THIS BILL FOR FOR THREE REASONS
ARE IT DOES FOCUS ON THREE
IMPORTANT.
PART ORTIZ OF MINE WHICH WAS
RARE I'M SORRY OPERATE CARE
PROTECTION CORPORATE
ACCOUNTABILITY AND
ACCOUNTABILITY AND ALSO THE NEW
BOARD THAT WAS CREATED.
BUT I DID HEAR THE GENTLEMAN
PREVIOUSLY STATE THAT THERE IS
NO ACCOUNTABILITY HE DOESN'T
BELIEVE IN THE MATT METRIC.
CAN SOMEONE EXPLAIN TO ME THAT
PORTION SO WE CAN TALK ABOUT THE
ACCOUNTABILITY PIECE.
SURE -- THE THE BOARD IS GOING
TO WORK AND HOW WE'RE GONNA FOR
A COUPLE OF DIFFERENT ELEMENTS
THE FIRST PIECE IS.
IS THE ADDITIONAL -- YOU KNOW
THE REQUIRED SPENDING IN THE
REQUIRE SPENDING WITHOUT A RATE
OF RETURN THERE'S ALSO THE
CREATION OF AN ADVISORY BOARD.
THAT.
THAT WOULD BE COMPRISED OF
NATIONAL INTERNATIONAL EXPERTS
ON THE ISSUE OF ELECTRICITY
SAFETY.
AND THERE ARE A COUPLE OF
DIFFERENT COMPONENTS THAT GET --
ADDED ON THERE'S A THE ANNUAL
CERTIFICATION.
OF SAFETY THERE WOULD BE
PROGRESS REPORTS IN TERMS OF
IMPLEMENTATION OF THE SAFETY
REQUIREMENTS THERE WOULD BE --
THERE BE FIELD AUDITS -- THERE'S
ABOUT FORTY EIGHT MILLION
DOLLARS IN ADDITIONAL RESOURCES
FOR THE P. YOU SEE IN THE
COMPANION MEASURE AND SB ONE
ELEVEN OR AB ONE ELEVEN FOR
ADDITIONAL RESOURCES FOR THE PC.
AND THEN AS A IS THE AUTHOR OF
MENTION THAT WOULD BE THE CREE
IN ADDITION -- TO STANDING UP
FROM THE WILDFIRE -- SAFETY
DIVISION WITHIN THE PC THAT
WOULD BE TRANSITION WITHIN A
COUPLE OF YEARS TO A STAND ALONE
DEPARTMENT WITHIN THE RESOURCES
AGENCY THAT WOULD BE.
EXCLUSIVELY FOCUS ON THIS AND
WOULD BE TAKING ON THE FUNCTIONS
OF THE FIELD AUDITS AND THE IN A
WAY WHICH I THINK OF IT IS IT'S
A VERIFY PLUS VERIFY PLEASE
VERIFY -- THERE'S THE ANNUAL
REQUIREMENT THERE'S THE PROGRESS
REPORTS THERE'S A FIELD AUDIT
ELEMENTS AND THEN THERE'S A
STRONG FINANCIAL -- INCENTIVES
FOR UTILITIES -- TO TO INSURE
THEIR COMPLAIN BECAUSE IN
ADDITION IN -- IN ORDER TO BE
ABLE TO HAVE ACCESS TO THE FUND
IN ORDER TO HAVE ACCESS TO THE
PUTTING MANAGER STANDARD THE
UTILITY MUST HAVE THE VALID
CERTIFICATE OF SAFETY -- AND THE
IF IF THE UTILITY IS NOT --
DOING WHAT IT'S SUPPOSED TO DO
IT HAS TO REIMBURSE THE FUNDS IN
SOME CASES UP TO A 100% WHEN
THERE'S A UTILITY COSTS WHILE
FIRE -- SO THERE ARE STRONG
FINANCIAL INCENTIVES IN ADDITION
TO THE LEGAL REQUIREMENTS THAT
STRENGTHEN THE EXISTING
FRAMEWORK AND ENSURE THAT OUR
ELECTRICITY DISTRIBUTION IS
GOING TO BE SAFER THAN IT IS
TODAY.
THANK YOU AND THEN THROUGH THE
CHAIR I ALSO JUST WANT TO SAY --
YOU KNOW I TO OBVIOUSLY HAVE
WELL.
WHEN WHEN WE WERE WORKING ON
LEGISLATION IN THIS AREA OVER
THE LAST WHATEVER YEAR?
YOU KNOW MY CONCERN WAS VICTIMS
AS WELL AND SO I REALLY AM
APPRECIATIVE OF THE VICTIMS THAT
CAME OUT HERE TODAY AND I THINK
I DO ACTUALLY THE EVEN THE
VICTIMS IN OPPOSITION I DO
SUPPORT ACTUALLY WHAT THEY'RE IT
THEY WERE SAYING ABOUT CONCERNED
ABOUT THE P. YOU SEE.
IN THIS BEING HOUSED UNDER THE
PC AND THAT THERE ARE FIRE
EXPERTS I KNOW ONE OF THE
OPPOSITION MENTION CAL FIRE AND
I THINK OUR GOALS WITH THIS BILL
IS TO MAKE SURE THAT ONE THAT WE
WERE TIMELY SO THAT WE STARTED.
TO THIS SORT OF SAFETY
IMMEDIATELY WHICH IS WHY IT IS
UNDER THE P. YOU SEE FOR NOW BUT
THAT WE ARE BRINGING IN FIRE
EXPERTS THAT WILL BE ON THE
BOARD.
THAT WILL BE MOVED OUT BY JULY
OF TWENTY TWENTY ONE SO THIS
WILL NOT MEAN HE'S MAINTAINED
UNDER THE CPC.
AND IT WILL BE -- IT WILL BE
OVERSEEN BY INTERNATIONAL
EXPERTS ON FIRE SAFETY AND I
THINK THAT IS REALLY IMPORTANT
AND IT'S AN IMPORTANT NOTE. FOR
THOSE WHO DID UP OPPOSE THE BILL
THAT THEY ARE CLEAR ABOUT THAT.
IF I COULD JUST VERY QUICKLY ON
THE ACCOUNTABILITY.
THERE ARE WITH THE WELL FIRE THE
KIND OF SHOPPER QUALIFIER
COUNCIL WORKING WITH
ADMINISTRATOR THEY WILL DO AN
ANNUAL REPORT THERE WILL LOOK AT
THE MANAGEMENT OF THE FUND.
OF THAT REPORT WOULD BE MADE
AVAILABLE TO THE LEGISLATURE AND
HAVE THE OPPORTUNITY TO BE
REVIEWED.
BY THE LEGISLATURE SO THERE
THERE'S THAT CONNECTION ALSO
WITH THE SAFETY BOARD OFTHERE
WOULD ALSO BE REPORTING BACK TO
THE LEGISLATURE -- ON AN ANNUAL
BASIS SO IT GIVES US AN
OPPORTUNITY TO EVALUATE.
THE EFFECTIVENESS OF THE PLANS
THAT HAVE BEEN PUT FORWARD SO
THERE'S CONTINUES TO BE -- THIS
LEGISLATURE TO OTHER TO THE
AGENCIES AS THEY GO FOR TO
IMPLEMENT THEIR RESPECTIVE AREAS
OF OVERSIGHT WHETHER ON THE
FINDER ON SAFETY MEASURES AND
THE LEGISLATURE HAS AN
OPPORTUNITY COULD.
EVEN HAVE -- INFORMATIONAL
HEARINGS AND OVERSIGHT HEARINGS
TO ALLOW FOR THE COMMUNITY
DOLLARS OF TRANSPARENCY THROUGH
THIS BODY AS WELL.
THANK YOU SO -- THOU PARTICULAR
PIECE TO ME I WANTED TO BE VERY
CLEAR BECAUSE WHEN WE HEAR THERE
IS NO ACCOUNTABILITY THREE FOUR
TIMES.
MAKES IT AS IT'S A FACT SO WHAT
I'M HEARING IT'S A COMPLETE NEW
DIVISION AND THAT'S NEVER
EXISTED THAT'S GONNA BE CREATED.
AND AFTER TWO YEARS IT'S GOING
TO MOVE TO A STAND ALONE
COMMITTEE WHERE WE'RE GONNA HAVE
CONTINUE AS WE ARE YOU KNOW
AUDIT THEIR BEHAVIOR.
THERE'S ANOTHER PIECE HERE THAT
I KNOW THAT A LOT OF MEMBERS
FELT VERY STRONGLY ABOUT AND SO
I'M REALLY THANKFUL TO THE
AUTHORS BECAUS I KNOW WE DON'T
START HERE.
AND CLEARLY THIS IS A A BILL
IT'S NOT A PERFECT BILL BUT THIS
IS WHAT WE HAVE NOW WHEN YOU DID
TAKE A LOT OF OUR CONCERNS
SERIOUSLY.
AND I WANT JUST -- FOR MY
PURPOSE CAN YOU CLARIFY THE
EXECUTIVE COMPENSATION BEING
TIED TO PERFORMANCE CAN YOU GIVE
US A LITTLE BIT OF THAT.
WELL I CAN LET YOU KNOW THAT IT
WAS VERY IMPORTANT. TO ALL OF US
TO ENSURE THAT THERE WERE NO
HEADLINES IT SAYS WILDFIRES
RESPONSIBILITY TELAVI AND THEN A
MONTH LATER COMPENSATION BONUSES
FOR EXECUTIVES.
AND SB NINE A ONE AND ADDRESS
THIS ISSUE AS WELL AS WE WERE
LOOKING AT ONE OF THE STANDARDS
OF WHICH TO HOLD -- A REVIEW AND
MAKING SURE THAT THE UTILITIES
ARE -- COMPLYING -- WITH THEIR
ABILITY TO THE DRAW FROM THE
FUND THAT THEY HAVE TO MAKE SURE
THAT THEY HAVE A COMPENSATION
PLAN IN PLACE WE'VE SENSUALLY.
THROUGH THIS PROCESS HAVE DRAWN
ON LEGISLATION THAT WAS IN THE
WORKS -- AND TO TAKE THOSE
ACCOUNTABILITY MEASURES AND TO
INSERT THEM INTO THE BILL AND A
CONCEPTUAL STANDPOINT BUT I
THINK IT GAVE A LITTLE BIT MORE.
DEATHS AND AND CLARITY IN TERMS
OF HOW THAT WOULD PROCEED AND
THE METHODOLOGY IN WHICH THAT
WOULD WOULD OCCUR.
THANK YOU -- CAN YOU ALSO POINT --
TO MAKING ARE HELPING THE
VICTIMS FROM THE SEVENTEEN
EIGHTEEN WILDFIRES AND ALL THAT
THERE IS A LITTLE BIT OF THAT
HOW -- THEY NEED TO BE TAKING
CARE OF AND AND AGAIN A LOT OF
THIS IS CONVERSATIONS I'VE HAD
BUT I WANT TO MAKE SURE THAT AS
WE MOVE FORWARD YOU KNOW FIRST
OF ALL PEOPLE UNDERSTAND THAT.
WE'VE BEEN HAVING DISCUSSIONS
BACK AND FORTH AND AND YOU HAVE
TAKEN A LOT OF THOSE --
SUGGESTIONS THAT FIFA MADE BUT
YOU KNOW VICTIMS CONTINUE TO BE
A BIG PART OF THIS DISCUSSION
AND SO CAN.
WE RE ITERATE HOW WE'RE GOING TO
BE TAKING CARE OF THOSE FIRE
VICTIMS. ONE OF THE CONDITIONS --
THE FOR P. JEANNIE TO BE ABLE TO
HAVE ACCESS TO THE INSURANCE
FUND AND TO HAVE ACCESS TO THE
PRINT MANAGER STAND IT WOULD
REQUIRE THAT.
THAT THEY HAVE A PLAN OF
REORGANIZATION THAT HAS BEEN
APPROVED BY BOTH THE COURT AND
THE PC.
OF THE PC WILL HAVE TO CERTIFY
THAT THE PLAN PROVIDES.
FOR IN IN FULL FOR THE VICTIMS
IN THE MATTER THAT'S DETERMINED
BY THE COURT AND TO DO THAT IN A
WAY THAT S REPAIR NEUTRAL SO --
BAND IT'S AN INPUT AND
IMPORTANTLY IT PROVIDES THAT A
DEADLINE FOR ONE THAT HAS TO BE
DONE BY -- SO BY NEXT SUMMER IT
WILL BE WHEN THE PLAN WOULD BE --
WOULD HAVE TO GO INTO A FACTUAL
AS I THINK ABOUT THE COMMENTS OF
THE VICTIM OF THE OF THE
SURVIVOR OF THE BUTTE FIRE OR
WHO'S BEEN WAITING FOR YOU KNOW.
ALMOST FOURTEEN HUNDRED DAYS --
THIS WOULD PROVIDE THAT THE PLAN
OF REORGANIZATION HAS TO BE
SIGNED OFF ON BY THE COURT IN
THE CERTIFICATION BY THE PC BY
NEXT SUMMER.
IN THE INTEREST OF TRYING TO
BRING FINALITY AND FAIR
TREATMENT OF VICTIMS AS PART OF
THAT -- CERTIFIED -- PLAN OF
REORGANIZATION.
THANK YOU SO SO I CAN -- A FOR
ME I NEEDED.
TO HEAR THAT WE DO YOU TAKE INTO
ACCOUNT THOSE VICTIMS THAT ARE
CURRENTLY STRUGGLING TO TO
BECOME WHOLE AGAIN WE HEARD THE
STORY FROM THE THE LADY WHO LOST
HER HOME AND SHE IS NOW HAVING
TO WORK A JOB EVEN AFTER
RETIRING AND HAVEN'T.
PAID OFF HER HOME AND SO THAT'S
IMPORTANT AND HAPPY PROTECTIONS
MOVING FORWARD BECAUSE I THINK I
ALSO HEARD -- YEAR HOW WE'RE
TAKING CARE OFNOW NOT THE
FUTURE BUT I FEEL THAT HAVING
THAT STAND ALONE COMMITTEE.
CON STAYED OUT MAKE DOING THEIR
AUDIT TO MAKING SURE THAT SAFETY
MEASURES ARE IN PLACE IT IS
SETTING US UP FOR A BETTER
FUTURE.
AND SO YOU KNOW RATE PAYER NEW
TRY JUST HEARD YOU SAY THAT
WHICH IS IMPORTANT AND SAFETY
CELLS SO I'M REALLY ENCOURAGED
BY THE BILL AND AGAIN FOR ALL
THE CONCERNS ARE OUT THERE IT'S
NOT A PERFECT BILL AND NOT TO
SAY WE'RE GONNA STOP WITH THIS
AND AND WE'RE GONNA.
CONTINUE TO HAVE CONVERSATIONS
ARE GOING TO CONTINUE TO MAKE A
BETTER AND TAKE ALL THOSE
CONSIDEATIONS.
INTO ACCOUNT BUT THANK YOU FOR
BRINGING HIS FOR I THINK IT'S A
IT'S IMPORTANT THAT WE DO
SOMETHING NOT DOING ANYTHING IS
NOT AN OPTION IN THIS CASE WELL
I APPRECIATE YOU ANSWER MY
QUESTIONS THANK YOU.
THANK YOU MISTER CHAIR AND THANK
YOU TO EVERYONE ESPECIALLY THOSE
THOSE VICTIMS WHO ARE HERE TODAY
I THINK THAT BRINGS A SENSE OF
REALITY TO ALL OF US AND WHY
WE'RE HERE AND WHY WE'RE WORKING
SO HARD ON THIS LEGISLATION TO
MAKE SURE THAT THAT STRUGGLE AND
SUFFERING AS I WALK.
THROUGH THE COFFEE PARK WITH MY
GOOD FRIEND -- FROM SANTA ROSA
AND THEN -- WE WENT IN WALK
THROUGH PARADISE YOU CAN'T SEE
THAT WITHOUT LIVING IT IN SOME
FORM AND KNOWING THAT WE HAVE TO
PREVENT THAT AND MAKE SURE
RESTITUTION IS.
BROUGHT TO THOSE VICTIMS AS WELL
AS FUTURE LIABILITY IS COVERED
IN THIS AND AND I WANT TO ALSO
HANK THE THE GOVERNOR'S DEATH --
AND THEIR RESPONSIVENESS OVER
THE LAST COUPLE OF WEEKS WHEN I
FIRST HEARD THE BILL -- I LIKED
IT IN CONCEPT ALIKE WOULD LOOK
LIKE IT SOUNDED LIKE AND THEN WE
HAD THE THE LANGUAGE CAME OUT
LOOKED AT THAT AND THEY WERE.
YOU KNOW SOME ISSUES OBVIOUSLY
THAT IT'S ALWAYS IN THE DETAILS.
OF AND THOSE QUESTIONS THOSE
CONCERNS EVERYONE OF THEM WAS --
WE RAISED AND WERE DRESSED IN
THE CONVERSATIONS AND I I
APPRECIATE THAT VERY MUCH THERE
A COUPLE OF QUESTIONS I STILL
HAVE.
LINGERING AND ALSO THAT IN WHICH
NOT IN THIS BILL BUT LOOKING
FORWARD TO A SUCH A BE IN SB ONE
ELEVEN WHEN WE CANNOT REMOVE
SAFETY.
FROM THE P. UC AND PUT IT INTO A
STANDALONE OPERATION WHICH
SHOULD BE I THINK MORE EFFECTIVE
IN THE LONG RUN BUT QUESTION.
UP IN THE THE SECTION.
EIGHT OH FIVE TWO FOUR IN THAT
THAT WOULD BE THE INTENT -- IN
THE WATER CODE WHICH IS THE
REVENUE REQUIREMENT SHALL REMAIN
IN EFFECT UNTIL JANUARY OF OF
TWENTY THIRTY SIX I JUST WANNA
MAKE SURE.
THAT THAT WILL EXPIRE AT THAT
TIME IN THAT THERE'S NO INTEND
TO CONTINUE THAT IN ANY FORM.
SEC COULD YOU JUST SEND I DIDN'T
HEAR WHICH PART TWO OF THAT MY
AND A SECTION THAT WAS THE WITH
THE WATER BECAUSE THE EIGHT OH
FIVE EIGHT OH FIVE TWO FOR THE
SECTION.
RELATED TO THE EXTENSION OF THE
FEE AND FOR HOW LONG THAT WILL
GO FOR I JUST WANNA MAKE SURE
THAT THERE'S CLARITY THAT IT
WILL BE EXTENDED.
SO THE EXTRA YES THE EXTENSION
WOULD BE ASSOCIATED WITH THE
TIME PERIOD TO FINANCE A TEN AND
A HALF BILLION DOLLARS OF
CONTRIBUTION FROM REPAIRS TO THE
FUND AND IT WOULD EXPIRE THE SET
TIME.
THANK YOU.
AND IN THE OTHER PART THAT I
THAT I WAS CONCERNED WITH IN
THAT IT'S THE SECTION -- THIRTY
TWO EIGHTY TWO WHICH PROTECTS
THE IN THIS GOES TO CRIMINAL.
AND CIVIL LIABILITY AND THIS IS
WHERE TALKS ABOUT THAT THE
ADMINISTRATOR OF THE OF THE FUND
THAT THAT'S BEING CREATED --
WOULD BE -- KIND OF WOULD BE
FREE FROM LIABILITY AND EXAM
FROM ANY LIABILITY FOR CIVIL AND
AND CRIMINAL -- ANY ISSUES THAT
COULD ARISE AND AND I GUESS MY
CONCERN IS IN.
I BELIEVE THE UNDERSTANDING NOW
IS IT THAT ONLY APPLIES TO STATE.
EMPLOYEES ARE STATE ACTIONS
STATE IF POINT IS FOR THE FOR
THIS RIGHT NOT THE BANK'S NOT
THE THE THOSE WHO WOULD BE
LANDING THE INVESTMENT FIRMS IT
WOULD BE LANDING IN LEARNING THE
MONEY TO IT.
EXACTLY CENTER THIS MERS A
SECTION THAT APPLIES TO THE
EXISTING PROGRAM ALL OF THE
CALIFORNIA EARTHQUAKE AUTHORITY
SO THE MAYOR'S THAT SECTION FOR
PURPOSES OF THE FUND
ADMINISTRATOR IS EXCLUSIVELY FOR
THE STATE EMPLOYEES.
IT IS ALL ON RELATED AND DOES
NOT AFFECT ANYTHING RELATED TO
THE ISSUANCE OF THE BONDS OR TO
ANYTHING ELSE THAT WOULD BE BY
BANKS IT'S JUST.
THE CURRENT LAW THAT APPLIES TO
CA JUST BE MAKING IT CLEAR THAT
PROTECTION FOR STATE EMPLOYEES
EXTENDS TO THE STATE THE ROLE OF
STATE EMPLOYEES IN THE CONTEXT
OF A BEING A MINISTER'S ON THE
FUND WE THANK YOU -- AND THEN.
THE ONE CHANGE IN THE IN THE
KIND OF THE LANGUAGE WAS THE THE
CPUC DEFINING SERIOUS DOUBT AND
AND I'D MINOR CHANGE THAT'S NOT
A LEGAL STANDARD.
AND HOW DOES THAT YOU DO YOU
HAVE AN TEND OF WHAT IS MEANT BY
SERIOUS DOUBT AND HOW WOULD THAT
OF THAT APPLY THE SERIOUS DOUBT
IS ESSENTIALLY THE THE LANGUAGE
THAT IS INCLUDING THE FIRST
DECISIONS AND IN THE FOR A
STANDARD SO COMES FROM FOR
DECISIONS.
APPLYING IT TO STATE LAW IT IS --
IT IS -- THE LOWER YOU KNOW
EVIDENTIARY STANDARD THAN SAY
PREPONDERANCE OF THE EVIDENCE SO
IT'S LESS THAN 50% AND IT JUST
MIRRORS THE FOR A STANDARD TO
SAY THAT IF THERE IS SERIOUS
DOUBT.
THE BURDEN TO PROVE PRUDENT SEE
WOULD SWITCH BACK TO THE
UTILITIES OKAY.
THAT AND THAT'S AS WHAT I WAS
HOPING IT WOULD BE WHICH I
DIDN'T KNOW THAT THAT WAS THAT.
THE DEFINITION AND ANOTHER WOULD
JUST THE PRUDENT SEE STANDARD.
IS THAT THE SAME IN THE
LIQUIDITY FUND -- AS IS IT THE
SAME STANDARD THROUGH BOTH FUND
IT IS NOT SO IN THE CONTEXT OF
THE YOU TO OF THE LIQUIDITY FUND
IF THE YOUTH IF THE IF.
THE TWO UTILITIES OPT FOR THE
LIQUIDITY FUND.
THE THE THE STANDARD FOR PUTTING
MANAGER WOULD ACTUALLY RETURNED
BACK TO THE PRE SB NINE OH ONE
STANDARD SO IT WOULD BE THE OLD
STANDARD THAT WAS IN EFFECT WHEN
THE DENTIST AND DECISION WAS
ISSUED RELATIVE TO COST RECOVERY.
THAT'S THE PRETTY SEE STANDARD
THAT GOES ALONG WITH THE
LIQUIDITY FUND THE THE STANDARD
THAT IS BASED ON THE PHONE THE
FIRST STANDARD BUT INCLUDES
ADDITIONAL IMPORTANT CONSUMER
PROTECTION SUCH AS THE ANNUAL
SAFETY CERTIFICATION.
THAT IS ONLY AVAILABLE IF WE ARE
IN THE INSURANCE FUND COSTA
CONSTRUCT OKAY THAT THAT THAT
CLARIFIES THAT IDENTIFIED COULD
MAKE A STATEMENT BECAUSE I IT
THE END HERE MISTER CHAIR THAT.
SO I WON'T HAVE TO TAKE MORE
TIME LATER I YOU KNOW AS I WAS
LOOKING AT THIS AND AND THE
ISSUE I THINK ALL OF US FOR THE
LAST YEAR BEEN TRYING TO COME TO
SOME.
IN OUR MIND HOW ARE WE GOING TO
SOLVE THIS AND WHAT WHAT IS THE
THE ISSUE THAT WE'RE LOOKING FOR
AND AND ONE IS THE ISSUE OF
FUTURE LIABILITY.
WE'RE TEMPTED TO SOLVE THAT
PROBLEM AND THEN PROBABLY MORE
IMPORTANTLY TO TO LOOK AT THIS
THROUGH A REPAIR LANDS TO MAKE
SURE THAT THE RATE PAYERS ARE
PROTECTED THROUGHOUT AND THE IN
THAT'S BEEN TAKEN MY GUIDING
PHILOSOPHY THROUGHOUT -- HAS
BEEN YOU KNOW UTILITY MANAGEMENT
IF THEY MADE POOR DECISIONS ARE
IF WE SEEN IN THE PAST AND THERE
INACTION.
OR THEIR DIVERSION OF OF
MAINTENANCE OR DIVERSION OF
FUNDS THAT THEY'VE DONE LED TO A
FIRE THAN.
IN THOSE MANAGERS AND
SHAREHOLDERS I THINK SHOULD BE
HELD RESPONSIBLE CLEARLY AND
THEY SHOULD PAY.
BUT IF THEY DID EVERYTHING
CORRECTLY THEY DID EVERYTHING
ACCORDING TO WHATEVER PLAN IS
DEVELOPED AND MONITORED AND
AUDITED AND INSPECTED -- AS IT
GOES FORWARD -- IN THINGS
HAPPENED.
THAT CAUSED THAT.
DESTRUCTION WILD FIRES A DIVING
BECAUSE WE ALL BENEFIT FROM THE
UTILITIES BENEFIT FROM THOSE
WIRES THAT -- THAT ARE TRAVELING
THROUGH OUR STATE THAN THE THAT
WE SHOULD COLLECTIVELY SHOULDER
THOSE COSTS AND AND TO SHARE
THAT THAT THAT SEEMS FAIR TO ME --
AND I THINK THIS BILL YOU KNOW
A. B. TEN OR TEN FIFTY FOUR AND
I WANT TO THANK THE AUTHORS.
FOR WORKING HARD WITH THIS AND
AND COMING TOGETHER ON A
SOLUTION I THINK DOES THAT AND
IT DOES IT IN A IN A VERY FAIR
WAY IT -- TO IT BRINGS US TO A
POINT WHERE THE INSURANCE FUND
WILL PROTECT THE FUTURES WITH
THE LIMITATION.
OF THAT TEN POINT FIVE BILLION
AS THE TOTAL COSTS. TO
RATEPAYERS.
AND WHEN YOU COMPARE THAT TO THE
COST TO THE FIFTY FORTY FIFTY
SIXTY BILLION DOLLARS THAT
SHAREHOLDERS COULD BE
RESPONSIBLE FROM THE I. O. U.'S
GOING FORWARD.
AND THE THE THE THE THE PART OF
THE BILL THAT I THINK WAS REYES
THAT THOSE SEVENTEEN AND
EIGHTEEN WILDFIRE.
WILL BE COVERED THROUGH THE P.
JEANNIE BANKRUPTCY IF THEY WANT
TO TAKE ADVANTAGE OF THIS FUND --
AS A LEAVE BANKRUPTCY THEY'RE
GOING TO HAVE TO MAKE THOSE
VICTIMS HOLE NOT.
THE RATE PAYERS DOING SO I'M
VERY SUPPORTIVE OF OF WHERE WE
ARE AND THE DIFFICULT TASK OF
GETTING THERE AND I'LL BE
PUTTING I THANK YOU.
THANK YOU MISTER CHAIR
[inaudible]
I TAKE A MOMENT ALSO TO SAY
THANK YOU.
TO INDIVIDUALS UP ON THE STYLIST
CARE CENTER HERTZBERG IN SOONER.
DODD FOR THEIR WORK ON THIS WAS
A THANK YOU TO THREE SUMMERS WHO
ARE SIT IN FRONT OF US TODAY
HOLDEN MAYES THANK YOU SO MUCH.
OF COURSE MADAM CHAIR BREAK
GRATEFUL FOR EVERYTHING YOU
ALWAYS DO AND ALSO WANTED
KNOWLEDGE THE HARD WORK.
BY THE ADMINISTRATION ON
MONSANTO'S TO LIVE IN THIS OP
FOR THE PAST.
SEVERAL MONTHS.
I THINK THAT WE CAN ALL COME TO
TODAY SAYING THAT WE HAD
CHALLENGES.
OUT WITH THIS BILL.
I AND ESPECIALLY WITH THE
EARLIER VERSION OF THE BILL AND
OVER THE PAST FEW WEEKS THERE'S
BEEN.
A LOT OF FOCUS ON HOW TO BE OR
TO BRING POSITIVE CHANGES TO THE
BILL BY THE TEAM.
THAT WAS JUST MENTION A AND BY
MANY OTHERS.
AND WHEN THERE'S BEEN A LOT OF
TALK ABOUT THE HEALTH AND WELL
BEING OF UTILITIES TODAY.
I THINK OUR FIRST PRIORITY NEEDS
TO BE TALKING ABOUT THE HEALTH
AND WELL BEING OF CALIFORNIANS.
WHO LOST THEIR HOMES?
A NEW CONTINUE TO REBUILD THEIR
LIVES.
AND UNFORTUNATELY ON THE NORTH
COAST WE SEEN. TOO MUCH FIRE WE
SEEN TOO MUCH FIRE FOR THE PAST.
FOR FIVE YEARS.
I AND I BELIEVE THAT THIS
PROPOSAL INSURERS THAT SURVIVORS.
OF THE SEVENTEEN EIGHTEEN
WILDFIRE SIR.
PAID WITH THEIR DO -- WITH FULL
CONTRIBUTIONS.
P. GINNY WILL PAY OUT BETWEEN
TWENTY THREE AND FORTY FOUR
BILLION.
AND THAT'S DEPENDENT.
ON THE SETTLEMENT IN FEDERAL
COURT BUT WOULD BE ABOUT TWENTY
THREE TO FORTY FOUR BILLION.
IN TOTAL WE TAKE A LOOK AT WHAT
IS IN FRONT OF US TODAY IT'S
ABOUT THIRTY TO FIFTY BILLION
FROM [inaudible]
ALL UTILITIES. THIRTY TO FIFTY
BILLION.
WITH NO RATE INCREASES THE
CALIFORNIANS.
P. GENIES GONNA FORGO ONE POINT
SIX BILLION IN FIFTY REQUIREMENT
RATE INCREASES THAT WERE.
IN THE PIPELINE.
ON A AND E'S SENATOR HILL JUST
MENTIONED -- IF THAT INSURANCE
FUND IS ULTIMATELY UTILIZE.
SHAREHOLDER FUNDS.
MUST BE USE FIRST.
NOT RATE PAYERS.
AND THAT IS CRITICAL TO THIS
DEAL.
THAT SHAREHOLDERS ARE PAYING
FIRST.
NOT RATE PAYERS.
IN THE ONLY WAY THAT A UTILITY
SUCH AS P. JEANNIE WOULD BE ABLE
TO ACCESS THE FUNDS WITHIN THE
INSURANCE FUND.
IS IF THEY PAY.
SURVIVORS WHAT THEY'RE DO.
AND I KNOW THAT THERE MAY BE
SOME DISAGREEMENT IN THIS ROOM --
AT THE SAME TIME THOUGH.
THERE IS BEEN.
KNOW WHETHER DEAL IN FRONT OF
THIS LEGISLATURE.
I WOULD ENSURE FIRE SURVIVORS
WOULD BE PAID OUT.
PRIOR TO UTILITY ACCESSING
ADDITIONAL FUNDS.
I'D LIKE TO TALK ABOUT THE ISSUE
OF TRUST.
AND JUST BEING HONEST ABOUT IT
THERE IS AN ISSUE OF TRUST WITH
P. JEANNIE AND ALL TO SPEAK FOR
MYSELF.
AND THAT IS WHY -- I APPRECIATE
THE FOCUS ON EXECUTIVE PAY.
THIS BILL WHILE IT IS NOT
PERFECT MAKES SIGNIFICANT
STRIDES TO HOLD.
P. JEANNIE TILLY'S ACCOUNTABLE
AND I TO GO THROUGH THREE POINTS
NUMBER.
ONE IN INEXTRICABLE STRICT
LIMITS ON CASH COMPENSATION.
WITH PAY LINKED TO PERFORMANCE
METRICS AND NO GUARANTEE THOSE.
IT WAS A GREGIS.
THAT PEOPLE JUST LOST THEIR
HOMES IN EXECUTIVES.
THOUSANDS OF EXECUTIVES WERE.
ABOUT TO SEE THEIR PAY GO UP.
THIS BILL WILL PUT A LIMIT ON
THAT. TO A SIGNIFICANT PORTION
OF COMPENSATION AND BE TIED TO
LONG TERM PERFORMANCE AND VALUE.
THREE THERE'D BE INCENTIVES TIED
TO COMPENSATION TO SAFETY.
INCLUDING TIME 1100% OF
INCENTIVE COMPENSATION TO SAFETY
PERFORMANCE AND DENYING ALL
INCENTIVE COMPENSATION IF
UTILITY CAUSES A CATASTROPHIC
WHILE FIRE.
WHICH RESULT IN ONE OR MORE
FATALITIES.
THE OTHER CHANGE THIS BILL IS
SEEN OVER THE PAST. TEN DAYS IS
THE BURDEN OF PROOF STANDARD
IT'S FLIPPED.
THE BURDEN OF PROOF STANDARD HAS
BEEN SIGNIFICANTLY AMENDED FROM
WHAT WAS FIRST INCLUDED WITHIN
IT AB.
TEN FIFTY FOUR IT ENSURES
UTILITIES HAVE THE ULTIMATE
BURDEN TO SHOW THAT THEY WERE
PRUDENT IF.
JUST OUT TO RAISE ABOUT THEIR
CONTACT SO WHAT THAT MEANS IS
THAT.
IF AN INDIVIDUAL OR ADVOCACY
GROUPS GO IN FRONT OF THE PC.
BOTTOM LINE IN THIS AND THEY ARE
ABLE.
TO SHOW THE P. YOU SEE.
THAT THERE IS PROOF THAT THE
UTILITY COSTS A WILDFIRE OR
ADVANCE SERIES DOUBTS THREE
MEMBERS OF THE PC SIDES WITH
THOSE RATE PAYERS ADVOCATES.
AND THAT.
MEANS THAT THERE.
WOULD BE ENHANCE INVESTIGATION
AND THAT.
I UTILITIES WOULD BE HOLD
ACCOUNTABLE.
BACK TO TALK ABOUT SAFETY
CERTIFICATION.
THE REASON WHY I THINK THE
STANDALONE DEPARTMENT.
IS IMPORTANT IS BECAUSE WE NEED
A DEPARTMENT IT IS SOLELY
FOCUSED ON THE SAFETY OF OUR
ELECTRICITY INFRASTRUCTURE.
THE GENTLEMAN TO MY LEFT SENATOR
HILL HAS DONE YEOMAN'S WORK ON
ALL ISSUES ON THE GAS SIDE I
THINK THIS IS.
ALSO CRITICAL TO PROTECT
CALIFORNIANS IN TWO IMPORTANT
WAYS.
NUMBER.
ONE IT'S GOING TO PROVIDE BOTH
OVERSIGHT. FOR INVESTOR OWNED
AND PUBLICLY OWNED UTILITIES AND
IT'S ACTUALLY CAN HAVE A CLEAR
MISSION A CLEAR MISSION TO FOCUS
ON SAFETY STANDARDS WHEN IT
COMES TO LINES.
THROUGHOUT THE STATE IT WILL
ALSO BE MORE NIMBLE IN THE
PUBLIC UTILITIES COMMISSION TO
BE ABLE TO RESPOND. TO NEW
CHALLENGES THAT UTILITIES MAY
FACE WHEN IT COMES TO CUSTOMER
SAFETY.
FINALLY MISTER CHAIR ALL ENDED
HERE AND I COULD TALK ABOUT THE
FUTURE.
THERE ARE SOME ISSUES THAT WE'RE
NOT TALKING ABOUT TODAY THAT
NEED TO BE DISCUSSED IN THIS
LEGISLATIVE SESSION.
TENS OF THOUSANDS OF
CALIFORNIANS HAVE SENIOR
INSURANCE NON RENEWED -- IN
THOUSANDS THOUSANDS THIS OCTOBER
WILL SEE THEIR RENTAL ASSISTANCE
[inaudible]
PRIOR.
IN THIS LEGISLATURE NEEDS A COME
BACK TOGETHER WITH AN AGREEMENT.
WITH THE ADMINISTRATION TO FOCUS
ON THE ISSUE OF INSURANCE AND
LIKE.
TO ASK MISS MONSANTO OUT WHAT
HER THOUGHTS ARE ON THAT IN
ADDITION.
I THINK THAT WE ALSO NEED TO
HAVE A FOCUS ON A INVESTMENTS IN
COMMUNITIES FOR HOME HARDENING.
UP FOR GREAT HARDENING IN FIRE
RESILIENCE AND THAT'S SOMETHING
THAT SENATOR STERN HAS BEEN.
VERY FOCUSED ON SENATOR WIENER
AS WELL -- AND I THINK THAT'S
GOING TO BE CRITICAL AS WE COME
BACK AND I HAVE ONE LAST ITEM
WOULD LIKE TO BE TO SEE MISS
MONTHS ON TO ON BEHALF AN
INSPIRATION YOUR THOUGHTS.
ON ISSUES OF RESILIENCE
HARDENING IN INSURANCE.
THOSE CENTER -- YOU WE SEE THIS
AS PART OF A PACKAGE OF BILLS ON
IMPORTANT INVESTMENTS INCLUDING
THE BUDGET IN THE AREA OF
LITIGATION -- IN THE AREA OF
ADDRESSING AND REDUCING THE
FREQUENCY AND THE INTENSITY OF
WILDFIRES.
THE ISSUE OF INSURANCE WAS --
DEFINITELY FOCUS OF THE BOTH THE
STRIKEFORCE REPORT AS WELL AS A
NINE A ONE REPORT AND WE SEE
THAT AS AN AREA THERE ARE MANY
MANY ARE.
GOOD -- MEASURES WORKING THROUGH
THE PROCESS AND WOULD LIKE TO
WORK WITH YOU ON THE ISSUES OF
INSURANCE OF WORK WITH THE
INSURANCE COMMISSIONER AND THE
BALANCE OF THE SESSION --
SIMILARLY WE SEE LOTS OF
OPPORTUNITIES IN THE AREA
SUPPORTING COMMUNITY RESILIENCY --
WE SEE OPPORTUNITIES BOTH AS
PART OF THIS MEASURE AND HOW THE
FIVE BILLION DOLLARS IN THE WALL
FOR MITIGATION PLAN -- GETS USED
TO ENSURE THAT THE RESILIENCY
EFFORT FROM THE UTILITY SIDE OF
THE EQUATION IS FOCUSED ON OUR
ALMOST WILL DOUBLE COMMUNITIES
BUT ALSO LOOK FORWARD TO WORKING
WITH YOU ON LEGISLATION THAT'S
GOING THROUGH THE PROCESS AS
WELL AS POTENTIAL INVESTMENTS
NEXT YEAR.
THAT ADDRESS -- THAT DID THE
BUILD ON EXISTING EFFORTS TO
ADDRESS -- THIS RISK IN -- TO
MAKE OUR COMMUNITIES -- MORE
READY TO REDUCE THE RISK AND
FREQUENCY OF WILDFIRES.
I APPRECIATE IT UNDER WINNER
WE'RE GONNA GO TO CENTER WINNER
NOT YET JUST ONE LAST ITEM --
THE TEACHER ABSOLUTELY.
YES YEAH I APPRECIATE THAT AND I
I THINK THAT THERE ARE GOING TO
BE SEVERAL UP PROPOSALS THAT THE
LEGISLATURE IS GONNA WANT TO
WORK WITH THE ADMINISTRATION ON
COME AUGUST.
BUT TO BE ABLE TO ADVANCE ON
THAT AND MY LAST ITEM I MISTER
CHAIR AND I WILL NOT GO IN DEPTH
ON THIS ALL SPEND FIFTEEN
SECONDS.
WE HEARD MEMBERS OF THE PUBLIC
SPEAK ABOUT THE POTTER VALLEY
PROJECT -- WHICH GINNY HAD TO
WALK AWAY FROM BECAUSE OF THE
BANKRUPTCY WHICH SUPPLIES WATER
TO SEVEN HUNDRED THOUSAND FOLKS
IN THE NORTH AREA AND THAT IS A
CRITICAL ISSUE THAT WILL NEED TO
TACKLE.
AT A FURTHER DATE AGAIN SENATOR
DODD CENTER HERTZBERG HER HUESO
AND THE WOMAN BURKE.
IN THE REMAINS TO NUMBER HOLDING
THANK YOU FOR YOUR HARD WORK --
IN ALL BE AT SUPPORT OF A
DECISION TODAY.
THANK YOU MISTER CHAIR -- I WANT
TO START BY JUST THANKING -- THE
AUTHORS OF AND THE GOVERNOR --
FOR PUTTING THIS TOGETHER -- I
FIND THE THE AUTHORS SITTING
HERE AS WELL AS THE ONES IN THE
THERE SIR ALL VERY -- A
STRAIGHTFORWARD -- PEOPLE WHO I
WORKED WITH EXTENSIVELY WHO WANT
TO DO RIGHT BY THE PEOPLE OF
CALIFORNIA AND I KNOW THE
GOVERNOR FOR TWENTY YEARS BACK
TO WHEN HE WAS SUPERVISOR.
A NEW SOME -- AND I KNOW THAT --
HE IS ALSO ONLY INTERESTED IN
MAKING THINGS BETTER FOR THE
RATE PAYERS AND THE VICTIMS --
IN THE STATE OF CALIFORNIA.
AND SO THANK YOU FOR THE
INCREDIBLE AMOUNT OF WORK THAT'S
GONE INTO THIS.
I'M THERE'S THERE'S A LOT OF
GOOD IN THIS BILL AND IN TERMS
OF THE THE HEART OF THE BILL
AROUND TO FIND AND THE LIABILITY
ISSUES AND THE SAFETY PLANS.
THERE ARE PARTS THAT I I LIKE IN
THEIR PARTS THAT I'D LIKE GLASS
ON BY IN TERMS OF ANY BILL THIS
NODDED TO NO ONE IS GOING TO
LOVE -- EVERYTHING ABOUT THE
BILL IS GOING TO BE GOOD AND AND
UNLESS COULD FROM ANY PARTICULAR
PERSON'S PERSPECTIVE.
A AND I DO WANT TO SAY THERE
THERE ARE I AND I'VE SEEN THE
NARRATIVE OUT THERE AMONG SOME
MEMBERS OF THE PUBLIC THAT --
THAT A P. JEANNIE SETS US TO
SORT OF AND THE SHAREHOLDERS
JUST EAT IT AND FIND EVERYTHING
IN THERE SHOULD BE ANY IMPACT ON
THE RATE PAYERS AND I MEAN WE
KNOW -- THAT'S UNFORTUNATELY I
WOULD LOVE IF THAT COULD BE THE
CASE THAT'S NOT REALITY THERE IS
GOING TO BE AN IMPACT ON THE
REPAIRS NO MATTER WHAT HAPPENS
WE SAW FROM THE CHARTS TODAY AND
THAT'S INTUITIVE WE HAVE WHAT --
BY JERRY BROWN REFERRED TO AS
THE NEW ABNORMAL -- AND
TRAGICALLY -- WE ARE GOING TO
HAVE TO ALL ABSORBED US.
AND AND THAT'S JUST THE REALITY
OF IT -- AND IF IF OUR IT IF
THAT WERE WHAT THIS THIS BILL
WERE ACTUALLY LEFT TO THE CORE
OF WHAT IT'S SUPPOSED TO DO IN
TERMS OF DEALING WITH SOME OF
THE LIABILITY ISSUES AND AND SO
FORTH -- ABOUT WOULD BE -- ONE
THING -- BUT MY CONCERN.
ABOUT -- THE BILL WHILE I WILL
NOT BE ABLE TO SUPPORT TODAY
WITH ALL RESPECT TO THE AUTHORS
INTO THE GOVERNOR.
IS THAT -- I BELIEVE THAT THE
BILL IS BOTH A MISSED
OPPORTUNITY IN SOME RESPECTS --
AND IN ONE PARTICULAR RESPECT --
TAKES US BACKWARDS.
OUR CURRENT SYSTEM IN TERMS OUR
INVESTOR OWNED UTILITIES IS
BROKEN.
IT IS A BROKEN MODEL THAT IS NOT
WORKING FOR THE PEOPLE OF
CALIFORNIA THE WILD FIRES ARE
ONLY THE MOST -- ARNOLD THE MOST
DRAMATIC -- MANIFESTATION OF
THAT FILURE WE'VE SEEN THE
FAILURE AND OTHER RISK.
RESPECTS AS WELL IT'S NOT
WORKING -- AND WE NEEDTO LOOK
TOWARDS THE FUTURE AND WHAT THAT
MEANS FOR OUR POWER SYSTEM.
AND I THINK IN TERMS OF THE
MISSED OPPORTUNITY THERE WERE I
THINK OF A GROUP OF US IN THE
SENATE WHO HAD ASKED -- THAT
THERE BE -- SOME PROVISIONS IN
THIS BILL TO SAY WE'RE NOT JUST
GOING TO TRY -- TO FREEZE A
BROKEN SYSTEM IN AMBER. TO PATCH
IT UP WITH TRIAGE OF COURSE WE
HAVE TO DO TRIAGE -- BUT TO SAY
WE'RE NOT ONLY GOING TO DO
TRIAGE FOR BROKEN SYSTEM WE'RE
ALSO GOING TO PLANT SEEDS FOR
THE FUTURE.
OF BURKE FUTURE OF A MORE
DECENTRALIZED -- OR DISTRIBUTED
APPROACH TO ENERGY AND SO WE ACT
GAVE SOME IDEAS ABOUT --
DIFFERENT DVR DISTRIBUTED ENERGY
RESOURCE COMPONENTS THAT GO INTO
THE BILL NOTHING DRAMATIC ABOUT
PLANTING THOSE SEEDS IN SENDING
A CLEAR SIGNAL THAT WE'RE NOT
JUST PATCHING UP A BROKEN SYSTEM.
THAT WE ARE LOOKING TO THE
FUTURE.
WE DID NOT I DID NOT GOING TO
THE BILL -- AND I I UNDERSTAND
ALL THE DIFFERENT OPINIONS
AROUND WHETHER THAT'S A GOING TO
THE BILL -- FROM MY PERSPECTIVE
IT'S A MISSED OPPORTUNITY NOT TO
HAVE DIED IN THE BILL IN THE
PLANT THE SEEDS.
OTHER THAN ON TOP OF THAT --
WERE SLIDING BACK AND THAT IS IN
PARTICULAR -- THE PROVISION --
IN THERE IN THIS BILL NOW IN
THIS LEGISLATION NOW THAT A
WOMAN WILL MAKE IT EXCEPTIONALLY
HARD MUCH HARDER THAN IT IS
TODAY. TO FORM A NEW MUNICIPAL
OR PUBLICLY OWNED UTILITY OR FOR
AN EXISTING PUBLICLY OWNED
UTILITY TO EXPAND -- THE THE
LANGUAGE IN HERE AROUND --
PUBLICLY OWNED UTILITIES IS NOT
JUST ABOUT THE LABOR PROTECTIONS
I AM ALL.
FOR MAKING SURE THAT AS YOU
TRANSITION FROM A PRIVATELY
OWNED UTILITY AND ITS ASSETS
GOOD PURCHASE BY A PUBLIC ENTITY
THAT THERE BE PROTECTIONS FOR
THE WORKERS I SUPPORT THAT A
100%.
PERCENT THIS BILL GOES WELL
BEYOND THAT BY CREATING MANY NEW
REQUIREMENTS AND MUCH GREATER
CPUC OVERSIGHT. FOR NACHOS FOR
US PUBLIC ANY ACQUIRING ENTIRE I
OWE YOU BUT SIMPLY PURCHASING.
ASSETS FROM THAT I OWE YOU NOT
JUST MAKING SURE THAT A
VALUATION IS ICE OF THE
SHAREHOLDERS GET THEIR VALUE.
BUT BROAD CPUC OVERSIGHT.
IF THIS PASSES IN ITS CURRENT
FORM AND THIS WAS THE THIS
PARTICULAR LANGUAGE WAS PUT INTO
THIS BILL -- LATE FRIDAY
AFTERNOON -- OF A HOLIDAY
WEEKEND LOT OF PEOPLE OF NOT
EVEN PROCESS TO YET AND THIS IS
A DRAMATIC SEA CHANGE.
IN TERMS OF OUR ABILITY TO TRY A
NEW MODEL MODEL THAT HAS WORKED
THROUGHOUT THE STATE IN TERMS OF
PUBLICLY OWNED UTILITIES.
THE GOOD MODEL THIS BILL MAKES A
DRAMATICALLY HARDER AND PERHAPS
IMPOSSIBLE -- SO WITH ALL THAT
SAID AGAIN THANK YOU TO THE
GOVERNOR AND TO MEMBERS FOR
MOVING THIS FOR THERE'S A LOT OF
GOOD IN THIS BILL -- BUT THERE
ARE SOME ASPECTS THAT MAKE IT
IMPOSSIBLE FOR ME TO SUPPORT THE
BILL [inaudible]
THEY'RE NOT.
YES THE THANKS MISTER CHAIR OF I
FIRST ALL I I APPRECIATE --
ASSEMBLY MEMBERS HOLDEN MAYES.
AND FOR THEIR WORK ON THIS AND
GETTING IT. TO TO US TODAY ALONG
WITH THE CHAIRMAN AWAY SO IN --
SENATOR -- HERTZBERG.
YOU KNOW THIS IS AND ALSO IT'S
BEEN A COLLABORATIVE APPROACH I
THINK WITH THE TEAM FROM THE
GOVERNOR'S OFFICE.
THEY DESERVE A LOT OF CREDIT FOR
THE COLLABORATIVE APPROACH. TO
DEVELOPING THE BILL AND IN
FRANKLY TACKLING. ONE OF THE
BETTER THE BIGGEST -- ISSUES
THAT WE HAVE BEFORE US.
I IN THE STATE OF CALIFORNIA
TODAY.
I KNOW PLAN IS PERFECT BUT
NEITHER IS THE WILDFIRE
SITUATION WE FACE IS
CALIFORNIANS.
CLIMATE CHANGE IS DRIVING MORE
DESTRUCTIVE FIRES AT EVER AT A
TIME WITH THE STATE'S LARGEST
UTILITY PGD HAS SADLY DUCT ITS
RESPONSIBILITIES UNDER STATE LAW.
THIS BILL REPRESENTS A
SIGNIFICANT PART OF THAT
SOLUTION.
IT WOULD HELP COMPENSATE PAST
AND PRESENT VICTIMS.
I PREVENT FUTURE DISASTERS AND
PROTECT UTILITY RATE PAYERS FROM
SUBSTANTIAL AN UNFAIR RATE
INCREASES.
CLEARLY IT'S A LIFELINE. FOR
UTILITY CUSTOMERS MAKE NO
MISTAKE THIS IS NOT A UTILITY
BAIL OUT.
IT'S A RATE PAYER BAILOUT.
IT REQUIRES P. GENIE IN THE
STATE'S OTHER TO BE YOU
UTILITIES TO PONY UP FIVE NEEDED
SAFETY IMPROVEMENTS.
UTILITIES WILL BE ALLOWED TO
MAKE A SET OF PROFIT FROM THESE
EXPENSES.
THE PLAN ALSO CREATES A FUND TO
HELP SHIELD CUSTOMERS FROM COSTS
OF ANY FUTURE WILD FIRES.
IN THE THE COST OF CAPITAL THAT
COME WITH THOSE RISKS.
IT ALSO MANDATES A STRICT WHEN
YOUR TIME LIFE FOR P. JEANNIE TO
EMERGE FROM CHAPTER.
ELEVEN INSURING THAT SETTLEMENTS
ARE REACH WITH ALL TWO THOUSAND
SEVENTEEN AND EIGHTEEN FIRE
VICTIMS.
WE MUST HOLD -- THESE COMPANIES --
THE COMPANY -- ACCOUNTABLE TO
THAT END THE BILL REQUIRES STATE
REGULATORS TO STEP UP OVERSIGHT.
AND ENFORCEMENT OF YOU TO
COMPANIES LIKE P. JEANNIE
INCLUDING DOING PHYSICAL AUDIT I
THINK THAT'S A VERY BIG
IMPORTANT PART OF THIS.
DOING NOTHING IS NOT AN OPTION
IF WE SIT BY UTILITY RATE IDLY
BY UTILITY RATES WOULD DOUBLE
UNDER THE STATUS QUO.
WE TOOK IMPORTANT STEPS LAST
YEAR INCLUDING STRENGTHENING OUR
FIRE PREVENTION AND RESPONSE
CAPABILITIES AND WE BUILT ON
THAT FOUNDATION IN THIS YEAR'S
BUDGET WITH SIGNIFICANT NEW
INVESTMENTS.
BUT THERE'S STILL MUCH MORE TO
DO AS PART OF THE SOLUTION I
HAVE -- INTRODUCED A HALF DOZEN
WILDFIRES SAFETY BILLS -- THIS
YEAR IN A NUMBER OF MY
COLLEAGUES IN BOTH THE SENATE IN
THE ASSEMBLY HAVE INTRODUCED A
NUMBER OF BILLS THAT WILL HELP
IN THIS REGARD.
AS WE HELP ROUND OUT THE
SOLUTION FOR THIS YEAR.
BUT OUR FOCUS MUST REMAIN ON
COMPENSATING VICTIMS STOPPING
NEW WILDFIRES IN PREVENTING
OUTRAGEOUS COST ON REPAIRS.
THERE'S NO SILVER BULLET FOR
THIS PROBLEM BUT THE LEGISLATURE
HAS A CHANCE.
AT TO MAKE MAJOR STRIDES NOW
TOWARDS THOSE AIMS.
IT CAN'T COME SOON ENOUGH AND
I'D JUST WILL YOU KNOW OBVIOUSLY --
WILL BE SUPPORTING THIS AND
THINK THAT THIS IS YOU KNOW
SOMETHING THAT IS JUST SO
IMPORTANT PARTICULARLY RIGHT NOW.
OF FOR THOSE MEMBERS THAT HAVE --
YOU KNOW -- CONSTITUENTS IN THE
SERVICE TERRITORIES -- SOUTHERN
CALIFORNIA EDISON SAN DIEGO GAS
ELECTRIC -- I THINK IT'S VERY
VERY IMPORTANT -- IN THOSE AREAS
THAT -- FOR PROTECTION OF YOUR
CONSTITUENTS THAT THAT WE GET A
YES VOTE ON THIS AS WELL THANK
YOU MISTER CHAIRMAN [inaudible]
MISTER CHAIR -- MY COLLEAGUES
HAVE EXPRESSED THIS BUT I THINK
IT'S BEARS REPEATING THAT WE
HAVE A UTILITY THAT IS FAILED TO
EMBRACE SAFETY CULTURE.
AND SEVERELY WE SAW WITH THE SAN
BRUNO INCIDENT WE SO AND WE FIND
IT WITH FIRES.
AND IT IS SOMETHING THAT.
BY TH WHILE I THINK THIS BILL
MAKES A SOME VERY IMPORTANT
STEPS TOWARDS ENSURING THAT WE
HOLD OUR ARE USED TO THE HIGHEST
SAFETY STANDARDS.
IT'S NOT ENOUGH YET I DON'T MEAN
THAT THAT'S NOT IN OPPOSITION TO
THE BILL IT'S JUST THAT. TO
ACHIEVE THE TYPE OF SAFETY THAT
WE EXPECT IN EVERY CALIFORNIAN
EXPECTS [inaudible]
B. -- THIS NEXT BILL THAT NOT
TODAY THAT WILL BE CONSIDERING
THAT ESTABLISHES THE SEPARATE
COMPLETELY SEPARATE DIVISION
WE'RE GOING TO HAVE TO MAKE SURE
THAT IT HAS THE EXPERTISE IN THE
AUTHORITY THAT WILL BE NEEDED.
TO REALLY ACHIEVE.
THAT SAFETY CULTURE WHICH WE CAN
POINT A FINGER.
AT THE I. R. USE BUT WE NEED TO
ALSO POINT OUR FINGERS AT
OURSELVES AND OUR REGULATORY
COMMISSION.
BUT THAT DOESN'T MEAN WE SEE
JUST POINT FINGERS IT MEANS THAT
WE HAVE -- TO IN.
WE HAVE TO TAKE IT SERIOUSLY
IMPROVE AND I LOOK FORWARD TO
THE DISCUSSION ON THAT NEXT ONE
TO MAKE SURE THAT WE DO THAT AND
THERE'S MUCH IN HERE.
THAT HELPS AND BUT THE THING
SEEN HERE THAT HELP OUR MORE THE
ISSUES OF AN IMPROVED SAFETY
CERTIFICATION.
AND THE ISSUES AROUND -- PUTTING
THE BURDEN.
ON THE SHAREHOLDERS IF THAT
UTILITY IS NOT BEEN SHOWN.
TO HAVE YOU IF IT WAS SHOWN TO
BE NEGLIGIBLE AND ALSO AS OTHER
COLLEAGUES HAVE POINTED OUT.
THE PARTS ABOUT THAT CORRECTLY
LIMIT THE ABILITY BY -- USED TO
REWARD EXACTS OR TO REWARD THEIR
SHAREHOLDERS WHEN THEY ARE NICK
NEGLIGENT SO THOSE THINGS.
ARE VERY IMPORTANT ASPECTS OF
THIS BILL AND AMENDMENTS THAT
WERE TAKEN FROM WHEN WE SAW IT A
WEEK AGO OUR GREAT IMPROVEMENTS
IN THAT AREA SO I WANT TO BE
VERY CLEAR ABOUT THAT -- I THINK
THAT.
IN OUR QUEST TO REALLY IMPROVE
THE SAFETY.
AND AGAIN THAT WILL -- THERE'S
NOT A LOT OF DETAIL IN HERE.
BUT WE NEED TO ALSO LOOK AT
TECHNOLOGY BECAUSE THE WITH THIS
WITH THE FACT THAT WE ARE IN A
CLIMATE.
CHAOS WORLD NOW THERE'S NO
BACKING AWAY FROM THAT WE MAY
AVOID FARD MUCH FURTHER WORST
CATASTROPHIC CLIMATE CHANGE BUT
WE ARE IN A CIRCUMSTANCE WHERE.
AS WE KNOW ALREADY FROM THE DATA
WHERE WE ARE GOING TO BE HOTTER.
AND WE'RE NOT GONNA HAVE THE
NIGHT TIME COOLING.
WE ARE WE'RE GOING TO HAVE THE
PATTERNS THAT CREATE WILDFIRES
IN THERE'S NO WAY WE CAN REMOVE
THE VEGETATION OR COMPLETELY
ELIMINATE THE DEVELOPMENT THAT
IS OCCURRED IN OUR URBAN
WILDLAND INTERFACE SO WE'RE
GONNA HAVE FIRES.
AND MANY OF THEM WILL BE.
BECAUSE OF SPARKS FROM THIS
UTILITY EQUIPMENT THE TWO HUGE
STATE.
SOME TECHNOLOGIES ARE AVAILABLE
TO US TO GIVE US THE REAL TIME
INFORMATION WHEN THOSE SPARKS
OCCUR AND WE NEED TO USE MORE TO
THAT BECAUSE WE DO NOT THE STATE
DOES NOT ADDRESS ENOUGH OF IT
BUT THAT WE CAN DEAL WITH IN
THAT NEXT BILL BUT I JUST THINK.
IT'S VERY IMPORTANT TO BRING IT
UP -- BUT I THINK IT'S ALSO
IMPORTANT FOR MY COLLEAGUES HAVE
BEEN -- MENTIONED THAT WE HAVE
TO BE CAREFUL NOT.
TO MAKE THIS TO ROSY THIS BILL
WILL AND I'M GLAD WE GOT TO
CLARIFICATION WILL IMPROVE OVER
THE GRAPHS THAT WE GOT.
FROM -- FIRST REISMAN SIMILAR TO
GAVE US GRAPHS THAT SHOW A
PRETTY SCARY PROJECTION OF RATE
INCREASES.
THIS BILL WILL HELP TO NOT SO
THAT WE DON'T HIT THAT SCARY
PROJECTION BUT IT WILL NOT
ELIMINATE ALL READING CREASES
BECAUSE IF WE'RE GOING TO
ACTUALLY IMPROVE SAFETY WE'RE
GOING TO HAVE TO SPEND SOME
MONEY.
AND FOR ACTUALLY GET A HOLD THE
UTILITIES ACCOUNTABLE MEANING
YOU THE PROPER SAFETY CULTURE
WE'RE GOING TO HAVE TO SPEND
SOME MONEY BECAUSE WE'RE GONNA
HAVE TO INCREASE OUR OWN
EXPERTISE AND THAT WILL REQUIRE
HIRING SOME PEOPLE.
SO.
WE'RE GONNA HAVE TO RATE
INCREASES.
BUT I THINK THIS BY TAKING THIS
ACTION NOW WE ARE GOING. TO TO
GIVE US SOME -- ALL OF OUR ONE
EASTWARD INSURANCE BUT SOME.
QUESTION FROM THAT HORRIBLE
PROJECTION THAT ARE ON THOSE
GRAPHS THAT YOU SHOWED US -- THE%
OTHER THING I LIKE ABOUT THE
BILL AS AMENDED IS THAT IT
COVERS THE SEVENTEEN EIGHTEEN
FIRE VICTIMS THE ORIGINAL BILL
DID NOT.
AND I APPRECIATE THAT SO THERE'S
MUCH IN HERE THAT I THINK FOR
IMPROVEMENTS AND THE ONLY THING
I WOULD SPEAK TO IS.
A YOU KNOW I'M NOT A FAN OF OUR
CURRENT UTILITY MODEL.
I DON'T THINK THAT IT ESPECIALLY
GIVEN THE TYPE OF CHANGES THAT
WE HAVE BEEN MAKING TO TRUST OUR
WHOLE WAY OF OF GENERATING
ELECTRICITY OF WHO PURCHASES
PURCHASES IT OF WHO DELIVERS
ENERGY SERVICES.
THE FACT THAT WE HAVE EMBRACE
THE ENERGY SERVICES ARE FAR MORE
THAN JUST THE DELIVERY OF ENERGY.
BUT I THINK THAT RIGHT NOW WE WE
TO THINK ABOUT EXACTLY HOW.
WHAT IS THE APPROPRIATE RIGHT
MODEL FOR CALIFORNIA THAT TAKES
A LOT MORE TIME?
AND WE'RE IN A SITUATION NOW
WHERE WE HAVE FIRE YOU STRUCTURE
AS IT EXISTS SO WE NEED TO ACT
TO MAKE SURE THAT THE STRUCTURE
THAT WE HAVE AS EXIST.
UNTIL WE HAVE DONE THE PROPER
TIME PROPER WORK TO FIGURE OUT
WHAT IT WOULD REPLACE IT.
THAT DOESN'T EXIST NOW WE NEED
IT TO BE DELIVERING THE SERVICE
AS BEST AS POSSIBLE WITH THE
SAFETY CULTURE AND WITH THE
LEAST -- DAMAGE IN TERMS A RAINY
CREASES TO OUR REGULAR
CALIFORNIANS WILL WE SEE REPAIRS
WE MEAN REGULAR CALIFORNIA.
SO THAT'S WHY I LIKE THE BILL
NOW BECAUSE WE'RE IN THIS
IMMEDIATE CRISIS NOW.
BUT I LOOK FORWARD TO WORKING ON
SOMETHING IN THE FUTURE THAT MAY
BE MORE DRAMATIC.
THANK YOU.
CENTER CHIANG FOLLOWED BY CENTER
BRADFORD.
MISTER CHAIR -- FIRST I'D LIKE
TO THINK THE AUTHOR'S BILLING
NOTES ON EASY ISSUE AND IT'S
CRITICAL. TO TO BE ABLE TO PUT
SOMETHING FORWARD -- THIS POLICY
IS GOING TO BE A HUGE SHIFT ON
OUR OF STATES RULES ON WILDFIRE
AND UTILITIES BUT I GOTTA BE
HONEST I MEAN THE BILL WAS IN
PRINT FRIDAY EVENING AND I AM
STILL UNABLE TO ASCERTAIN THE
IMPACT ON RATE PAYERS I KNOW
CENTER SKINNER.
WAS TALKING ABOUT THAT AND I
JUST STARTED GETTING A FLOOD OF
PHONE CALLS FROM FOLKS IN MY
DISTRICT -- EXPRESSING SOME
CONCERNS.
BUT I WILL SAY THAT.
I AM OPEN MINDED AGAIN I APPLAUD
THE EFFORT OF THE AUTHORS AND
THE GOVERNOR'S OFFICE BUT YEAH
THERE'S A TON OF MOVING PARTS
AND I STILL HAVE TO CONSIDER THE
IMPACT ON RATE PAYERS AND AND
I'M STILL -- NOT HAVING OF A
FULL GRASP OF THAT AND SO TODAY
I'M GOING TO BE LAYING OFF AND
AND FURTHER STAYING THIS ISSUE
BUT AGAIN THANK YOU SO MUCH FOR
BRINGING THIS BILL FORWARD NOT
BE -- TAKING A LOOK AT IT LATER
CENTER BRADFORD.
THIS WILL BE VERY BRIEF FOR MY
COMMENTS BUT I TWO ONE APPLAUD
THE AUTHORS AND THE MEASURE THAT
WE HAVE BEFORE US BECAUSE OF THE
INDIVIDUAL WHO WORK FOR UTILITY
COMPANY IF YOU WOULD.
IF I WOULD IT YOU ASKED ME A
YEAR AGO FIVE YEARS AGO TEN
YEARS AGO THAT YOU WOULD TAKE.
HOW THE BILL WITH THE UTILITIES
TAKING SUCH?
OWNERSHIP.
OF LIABILITY AND YOUR
SHAREHOLDERS -- PEEN LE LEVEL
WHAT THEIR PAIN AND THEIR
EXECUTIVES TAKING THESE
COMPENSATION IT I WOULD SAY IT
WOULD NEVER HAPPEN.
BECAUSE THAT WAS NOT THE CULTURE
OF INVESTOR OWNED UTILITIES I
JEERED UTILITIES IN ASSEMBLY AND
WE HAD TO SAN BRUNO.
HEARING AND WE FOUGHT.
FOR RATE SHAREHOLDERS TO PAY
THAT LIABILITY WE'RE SUCCESSFUL
THERE BUT PART OF THAT -- YOU
VERY RARELY GET SHAREHOLDERS
EVER TAKE A HIT ON ANY OF THE
LIABILITIES ACOSTA -- UTILITIES
MIGHT OF COST I WOULD BE VERY
CLEAR UTILITIES ARE NOT CAUSING
ANY MORE FIRES TODAY THAN THEY
DID TWENTY YEARS AGO.
THEIR EQUIPMENT IS NOT CAUSING
ANY MORE WHAT WE HAVE IS A
CLIMATE CHANGE WE ALL BELIEVE IN
CLIMATE CHANGE WE HAVE A
DIFFERENT ENVIRONMENT OUT THERE.
WE HAVE.
ODD TREES THAT ARE NOT BEING
MANAGED I MEAN EVEN CONGRESSMAN
GARAMENDI SAYS WE HAVE DONE A
POOR JOB AT MANAGING OUR FORCED
AND THAT'S A CONTRIBUTING FACTOR
AS WELL.
SO THAT'S WHY I WAS HASN'T IT AT
FIRST ON TRYING TO JUST.
BANG BANG BANG ON THE UTILITY
AND SAY THEY HAVE A 100%
LIABILITY ON THIS THING YES THEY
HAVE SOME RESPONSIBILITY AND I
THINK THIS MESS -- THIS BILL.
HOLD HIM TO THAT MAKES HIM PAY
THEIR FAIR SHARE MY CONCERN IS
ALSO THOSE -- SEVENTEEN EIGHTEEN
FIRE VICTIMS AND MAKING SURE
THAT THEY'RE PAID QUICKLY AND DO
WE HAVE ANY TIME FRAME ON HOW
SOON THEY WILL BE MADE WHOLE
BECAUSE THE SEE IT IN THIS.
BILL AND THEY STILL WAIT TWO OR
THREE YEARS DOWN THE ROAD WE
HAVE REALLY NOT HELP THEM IF
THAT'S THE CASE.
AND MY OTHER CONCERN EVEN THOUGH
THIS BILL DOES NOT ADDRESS IT IS.
MY FEAR OF A HEDGE FUNDS OF
COMING IN AND CAL CANNIBALIZING
UTILITIES WHETHER IT'S P. GINNY
SOUTHERN CALIFORNIA EDISON THE
GAS COMPANY -- I I I I WISH WE
HAD A BETTER STAY IN THE METHOD
OF HOW WE FIND.
THIS PAY OUT BECAUSE I AM FAVOR
OF THE EQUITY CONTRIBUTION BOND
BUT I UNDERSTAND THIS BILL DOES
NOT ADDRESS THAT.
AND THOSE ARE THE CONCERNS I
HAVE GOING FOR BECAUSE IF IT
WOULD LOOKED IT UP TO THE HEDGE
FUNDS.
I'M FEARFUL WHAT WILL HAPPEN TO
NOT ONLY.
PJ BUT ARE INVESTOR OWNED
UTILITIES AS A WHOLE AND WE
SHOULD BE CONCERNED ABOUT THAT
BECAUSE SENATOR ARE HERTZBERG
AND I BOTH LIVE TO THE ENERGY
CRISIS HE AS THE SPEAKER AND I
AS AN EMPLOYEE OF EDISON.
AND THE LAST THING YOU WANT IS
ANOTHER CRISIS BASED ON FUNDING
AND RELIABILITY AND THE TWO
THINGS THAT UTILITIES ARE
CONCERNED ABOUT DESPITE WHAT YOU
MIGHT READ IS SAFETY AND
RELIABILITY.
THOSE ARE ALWAYS THE TWO TOP
PILLARS OF ANY UTILITY COMPANY
SAFETY A RIB RELIABILITY PROFITS
ALWAYS THIRTY MIGHT NOT COME OUT
LIKE THAT BUT THEY'VE ALWAYS
CHAMPION SAFETY AND RELIABILITY
LEE FOR SOUTHERN CALIFORNIA
EDISON WHERE I WORKED.
THANK YOU.
THANK YOU VERY MUCH I WANNA
THANK EVERYBODY FOR THEIR
COMMENTS AND WE HAVE ONE MORE
CENTER [inaudible]
I'M DONE.
I THANK YOU MISTER CHAIR -- I
ONE OF FIRST OF ALL -- THANK ALL
THE THE AUTHORS SAID TO HAVE --
WORK TOGETHER TO TRY TO GET US
TO WHERE WE ARE TODAY --
ASSEMBLYMAN CHAD MAYES IS --
COMMUNICATED WITH THE CENTER DOT
HOUSE I HAD ABOUT AN HOUR
CONVERSATION ON A PLANE WITH
SENATOR HERTZBERG -- BUT I SHARE
THE SAME CONCERNS THAT I DO WITH --
CENTER CHIANG OF THIS IS A LARGE
DOCUMENT THIS IS A COMPLEX BILL --
I'D I THINK WE SHOULD BE DOING
EVERYTHING WE POSSIBLY CAN TO
MAKE SURE THAT THE VICTIMS ARE
ARE PAID -- AND PAID AS PROMPTLY
AS POSSIBLE I THINK IT'S A IT'S
HORRIFIC THAT WE'RE WE'RE HERE
TODAY. FOR FIRES THAT HAVE
HAPPENED -- QUITE A FEW MINUTES
AGO AND AND THESE PEOPLE ARE
STILL BEING IMPACTED TODAY I'M
NOT SURE IF THIS IS THE SILVER
BULLET TODAY THAT'S GONNA.
GET THEM KIND OF FUNDING THAT
THEY NEED -- POST HASTE BUT I AM
STILL CONCERNED ABOUT -- THE
RATE PAYERS -- BECAUSE YOU HAVE
A POOL OF REPAIRS THAT ARE GOING
TO BE GIVEN AN ASSESSMENT
[inaudible]
AND YOU HAVE.
PEOPLE THAT HAVE MEANS THAT HAVE.
PUT SOLAR PANELS ON THEIR ON THE
ROOF THAT ARE NOT GOING TO BE
PAYING INTO THE FUND.
WE HAVE A NEW REQUIREMENT TWENTY
TWENTY THAT ALL HOMES ARE GOING
TO BE BUILT WITH SOLAR PANELS
THEY'RE NOT GONNA BE PAYING INTO
THE FUND.
AND SO YOU'RE IN A SMALL
UNIVERSE WHICH OF COURSE
INCLUDES OUR BUSINESSES THAT ARE
ALREADY SAYING THE HIGHEST
UTILITY RATES PROBABLY IN THE
COUNTRY.
FORCING SOME OF THEM TO MAKE AS
EXECUTIVE DECISIONS TO TO MOVE
OUT OF THE STATE WE'VE ACTUALLY
HEARD FROM MY ONE OF THE MEMBERS
AND NOT IN OPPOSITION THAT THEY
WERE HOPING.
AFTER THIS -- FEE THAT WAS
PAYING OFF BONDS WOULD BE GONE
THAT THEY BE SAYING A FOUR FIVE
AND THOUSAND DOLLAR -- AMOUNT OF
MONEY THAT IT WOULD HAVE TO
EXPAND YEAR AFTER YEAR.
SO -- IT'S VERY DIFFICULT WITH
HER REPUBLICAN AND YOU HAVE VERY
LITTLE STAFF THE BILL TO GO
THROUGH AND AND COMPREHENSIVELY
UNDERSTAND.
ALL THE DETAILS OF THE BILL WE
DID THE BEST WE POSSIBLY CAM --
BUT I STILL HAVE MANY MANY MORE
QUESTIONS THAT I'M NOT SURE NOT
GOING TO BRING THE COMMITTEE
WITH BUT IN ITS PRESENT FORM
TODAY -- WITHOUT THE EXPLICIT
PROOF THAT ARE VICTIMS ARE GOING
TO SEE -- SIGNIFICANTLY ENHANCE
PAYMENTS AND BEING FAIR TO THOSE
VICTIMS AND TAKING INTO
CONSIDERATION THE RATE PAYERS
THAT WE HAVEN'T HAD TOO MUCH OF
A DISCUSSION WITH TODAY THAT
ALREADY -- AT LEAST IN MY
DISTRICT WHEN YOU HAVE A HUNDRED
AND SIXTEEN DEGREES AND AND THE
PALM SPRINGS AREA PEOPLE UP TO
USE THEIR AIR CONDITIONING --
ESSIE IS A BIG UTILITY OUT THERE
THESE THESE FOLKS MANY OF THEM
THAT ARE LOW INCOME JUST CAN'T
AFFORD TO SEE MORE INCREASES OF
THEIR UTILITY RATES -- TO
SUBSIDIZE -- PROBLEMS THAT --
ARE OUR LARGEST UTILITY HAS --
HAS DONE AND THEN YOU HAVE A
COLLECTIVE FEE OF FIVE BILLION
DOLLARS AT THE UTILITIES ARE
GOING TO BE PUTTING TOGETHER FOR
THIS FUND.
AND YOU KNOW SOMEONE I DON'T
THINK IT'S RIGHT THAT -- SDG
ANNIE THIS ALREADY HARDENED OR
LINES OF ALREADY COME UP WITH A
COMPREHENSIVE SYSTEM I WOULD
CALL THE MODEL -- FOR MITIGATING
THE THE IMPACTS OF WILDFIRE
WITHIN THEIR JURISDICTION WHY
THEY SHOULD HAVE.
TO CONTRIBUTE TO THIS FUND --
AFTER THEY'VE ALREADY SPENT A
SIGNIFICANT AMOUNT OF MONEY --
AFTER THE MITIGATION OF THE FIVE
HUNDRED AND SOME ODD MILLION
DOLLARS A DAY TO PAY FOR THE THE
FIRES THAT HAPPENED EARLY IN THE
IN THE YEAR TWO THOUSAND'S.
SO -- IN ITS PRESENT FORM TODAY --
I CAN'T SUPPORTED APPRECIATE THE
GOOD WORK OF ALL THE THE AUTHORS --
I WISH I HAD MORE STAFF AND MORE
TIME TO BETTER UNDERSTAND ALL
THE IMPACTS -- TO MY
CONSTITUENTS BUT YOU KNOW THE
VICTIMS DID COME FIRST IN THE
RATE PAYERS INTO COME SECOND.
AND BOOKED UP OR ME MY
PRIORITIES AS WE MOVE FORWARD
THANK YOU.
THERE ARE HERTZBERG.
BRIEFLY ARM TO CABINET SECRETARY
ON THE I I HEARD.
THE EASY WITH RESPECT TO SUPPORT
OF THIS MEASURE THAT EDISON
INDICATED THAT IT WAS SUPPORTING
ARMED AND OBVIOUSLY IN THE
AGREEMENT.
JUDY CAN'T SPEAK FOR ITSELF
BECAUSE THE SUBJECT TO THE
FEDERAL COURT.
BUT YOU PUT A PROVISION THAT
REQUIRES AS PART OF THE CLOTHES
THAT THAT MEANS PART OF THE
CONCLUSION OF THE PROCEEDINGS
THAT.
THIS HAS TO BE THAT THEY HAVE TO
AGREE TO THIS -- INSURANCE FUND
MY QUESTION IS.
IT HAS TO YOUR KNOWLEDGE HAS
SOME BROUGHT SUPPORT BUT AGREED
TO SUPPORT THIS MEASURE.
BUT WE'VE WORKED WITH ALL THREE
UTILITIES BOTH IN TERMS OF THE
CONSTRUCT OF THE UTILITIES AS
WELL AS THE DISTRIBUTION OF THE
RELATIVE COST OF THINKING ABOUT
THE CENTERS POINT PART OF THE
BECAUSE OF THERE'S A RECOGNITION
OF WORSE AND GAS ELECTRIC WHICH
IS WHY THEY WOULD HAVE.
THE SMALL SHARE CONTRIBUTION TO
THE FUND SO WE WORK WITH ALL
THREE UTILITIES AND WE
UNDERSTAND THAT THEY SEE THIS AS
A SALUTE THERE'S A PATH FORWARD
YEAH BECAUSE IT THE REALITY IS
IT IN.
ALLOCATING THIS RECORD YOUR
ALLOCATION FORMULA IT'S ABOUT
SIXTY FOUR POINT 4% FOR PER P.
JEANNIE.
AND MUCH SMALLER PERCENTAGES THE
SMALLEST PERCENTAGE OF X. X. OR
SOMETHING PERCENT. FOR FOR FOR
SAMPRAS SO THAT IT TO THE EXTENT
IT IS REWARDED FOR HIS GOOD
BEHAVIOR.
GET GIVEN THOSE CIRCUMSTANCES
THE LAST THING I WANT TO SAY IS
THAT.
THERE IS A TWO THERE'S TWO FUNDS
AND THERE'S AN ELECTION ON THIS
REQUIRED WITHIN FIFTEEN DAYS DO
YOU HAVE ANY INDICATION AS TO
WHETHER AT LEAST THE TWO
FINANCIALLY VIABLE ENTITIES.
ADJUST INVESTOR UTILITIES OF
ELECTED OR INTENT TO ELECT --
THE INSURANCE FUND --
EXPECTATIONS THEY WILL LOOK TO
THE INSURANCE FUND PARTICULARLY
IN LIGHT OF THE AMENDMENTS THAT
SAY THE THE PERMANENCY TEST THAT
WOULD BE AVAILABLE IN THEIR
LIQUIDITY FUND WOULD BE THE PRE
THE SB.
NINE OH ONE SO WE THINK BASED ON
BASED ON THE PRESSURES OF THEIR
THAT THEY'RE EXPERIENCING
RELATIVE TO STABILITY.
WE THINK THE INSURANCE FUND WAS
GOING TO BE THEIR CHOICE LAST
POINT OBVIOUSLY GIVEN THEIR
SUPPORT INDICATED THAT THE
ALLOCATION FORMULA OR SOMETHING
THAT THEY AGREE TO WHICH THAT
AVOIDS LITIGATION GOING DOWN THE
FUTURE.
THANK YOU.
CENTER STERN.
MR.
THANK YOU COLLEAGUES ALSO FOR
THE DEPTH.
OF ENGAGEMENT HERE I AM ONE OF
THOSE SEVENTEEN EIGHTEEN FIRE
VICTIMS -- SO ARE MY BEST
FRIENDS IN MY HIGH SCHOOL
ENGLISH TEACHER AND EVERYONE IN
THE NEIGHBORHOOD I GREW UP IN
AND WHEN THE GOVERNOR
[inaudible]
SHOWED UP.
WHEN HE FIRST TOOK OFFICE?
ANY PROMISED THAT HE WAS GONNA.
ADDRESS THIS CHALLENGE.
I DIDN'T EXPECT IT.
WOULD BE HERE TODAY.
AND THE THE COMPLEXITY OF A WHAT
IT MEANS TO ACT ON A CHALLENGE
THIS COMPLEX IS IS OBVIOUS
[inaudible]
BUT TWENTY BILLS TONGUE WHEN THE
PRESIDENT CAME TO TOWN AND DID
THE RIGHT THING AND THEN PUT
POLITICS INTO AN EMERGENCY.
AND THEN PUT THE DILIGENCE IN
WITH DEPARTMENT OF FINANCE.
AND THE TEAM HE BROUGHT ON THE
FIRST CLASS.
TEAM HE BROUGHT ON TO ACTUALLY
WORK ON MECHANICS HERE -- IN THE
COALITION THAT YOU ALL OF BILL.
I THINK.
THERE'S REPEATING. TO HAVE A
COALITION THAT INCLUDES VICTIMS.
AND RATE PAYER ADVOCATES.
AND THE ENVIRONMENTAL COMMUNITY.
ELEMENT PROGRESSING UTILITY
INDUSTRY EVEN I DON'T KNOW HOW
YOU YOU PULL THIS OFF TO BE
HONEST MISS BONTA SANTOS -- AND
NOW THIS GOVERNOR DID IT VOTE --
HE DELIVERED ON HIS PROMISE.
NOW.
IS THERE PROMISE FULLY MET NOT
YET.
WE ARE WORK TO DO -- BUT I TRUST
NOW IN THIS ADMINISTRATION AT
THEIR WORD IS GOOD AND THEN WHEN
HE WALKED THROUGH THOSE ASHES
THAT WAS.
NOT A PHOTO OP -- SO I THINK THE
AUTHORS FOR BRINGING THIS
FORWARD BECAUSE THIS IS VERY
REAL FOR MANY PEOPLE.
AND THE NOTION SOMEHOW THAT --
VICTIMS.
ARE GOING TO BE BETTER OFF
WITHOUT US MOVING A MEASURE HERE
I THINK IS FALSE I KNOW IT'S AN
ANXIETY PRODUCING EFFORT ACT AND
I AGREE.
WITH MY COLLEAGUE FROM SAN
FRANCISCO THAT THERE'S SERIOUS.
CHALLENGES THAT REMAIN AND I'M
FRUSTRATED AND I KNOW WHETHER
IT'S A CLASSY INSURANCE MARKETS.
WHETHER IT'S THE OPPORTUNITY IS
NOT SEIZED IN THE ENERGY IS
ATION AND USING D. E. R.
RESOURCES TO GET OUT THERE AND
COMMUNITIES AND ACTUALLY EMPOWER
PEOPLE TO FEEL SAFE.
THE STRUCTURAL ISSUES THE MOST
CENTER FROM BERKELEY BROUGHT UP --
THOSE THOSE ARE REAL THAT'S REAL
WORK TO DO.
AND I TAKE YOU AT YOUR WORD TO
SAY YOU'RE GOING TO FOLLOW
THROUGH ON BUT I THINK WE'VE GOT
TO RECOGNIZE HERE TODAY THAT THE
COST OF INACTION IS TOO GREAT.
AND THERE'S TOO MANY PEOPLE WITH
THEIR LIVELIHOOD AND THEIR LIVES
LOOKING AT A PILE OF DIRT. ONE
OF OUR VICTIMS HERE TODAY TALK
ABOUT STERN APOLOGY -- I'M SURE
A LOT OF PILES OF DIRT MYSELF
BACK HOME.
I'M I MOVED OUT BUT MY APARTMENT
NOW IS YOU KNOW.
SURROUNDED IT IS WILL WE RIGHT
WE WE LIVE IN THIS NEW WORLD AND
PEOPLE TO KNOW WHAT THAT WORD
WORD MET.
BUT IT'S NOT DONE.
AND THE CHALLENGES AROUND.
NOT THE FORESTRY IN THE NORTH
COAST NO AND AND NOT THE THE
DEEP BIG TREES WHICH WE ALL KNOW
WE'VE GOT TO GO TACKLE THOSE
ISSUES IS RESOURCES CHAIR WE ARE
TAKING A PROACTIVE STANCE AND
FORCE YOU MANAGEMENT BUT THAT
URBAN INTERFACE.
THOSE PEOPLE LIVING IN HILLSIDE
COMMUNITIES WHERE THE RISK IS TO
REAL WERE INSURANCES CAN'T BEING
CANCELED OR NON RENEWED -- WE'VE
GOT A STEP UP SO I KNOW THERE'S
WORK TO DO FOR THE REST OF THIS
SESSION.
WE'VE GOT TO FIND OTHER REVENUES
OTHER STRUCTURES ACTUALLY HARDEN
NOTCHES HOMES BUT COMMUNITIES --
AND WE'VE GOT TO MAKE SURE THAT
THOSE VICTIMS HAVE SOME HOPE IN
THE FUTURE WHAT I SEE HERE IS.
A RATE PAYER BY IN THE PALES IN
COMPARISON TO A SHAREHOLDER BY
IN A FRAMEWORK.
THAT FAVORS VICTIMS.
ARM AND SOME HOPE.
MECHANICS ARE HARD.
IT IS A COMPLEX BILL.
BUT THAT'S WE GET PAID TO DO
HERE.
AND SO I'M JUST.
I'M HUMBLED BY THE THE GRAVITY
OF ALL THIS AND I TRUST IN THE
DILIGENCE OF THAT'S BEEN DONE BY
STAFF BY THE ADMINISTRATION BY
THE AUTHORS.
AND YOU CAN.
YOU CAN BET THAT WE'RE GONNA BE
KEEPING A DARN GOOD I ON THIS
GOING FORWARD AT THE OVERSIGHT
ON ONGOING BASEIF THINGS NEED
TO BE FIXED THEY WILL BE FIXED.
BUT I WILL BE SUPPORTING THIS
MEASURE TODAY.
SHE EIGHT WITH THE GOVERNOR'S
DONE IN STEPPING UP AND DOING
THE HARD WORK BECAUSE A LOT OF
PEOPLE JUST DIDN'T WANT TO DO IT.
AND WE COULD JUST LET IT GO A
COLLAPSING THE STATE
CALIFORNIA'S ENTIRE FISCAL
FRAMEWORK AND LEAVING VICTIMS ON
THE LINE IS UNACCEPTABLE.
THAT'S WHAT WE SUPPORT THE
MEASURE TODAY.
I WANT TO THANK MEMBERS FURTHER
COMMENTS AND THIS IS TRULY --
CITIZENS LEGISLATURE AND THIS.
THIS BODY THIS.
COMMITTEE IS ACTUALLY MADE UP OF
PEOPLE THAT BRING.
THE SOME AMAZING -- PERSONAL OF
STORIES AND BACKGROUNDS AND
EXPERIENCES BOTH HAVING SEVEN
SOMEBODY THAT WORKED.
WITHIN INDUSTRY HAVING SOMEBODY
THAT LOST THEIR HOME IN A
WILDFIRE -- AND HAVING OTHER
MEMBERS THAT HAVE SERVED IN
DIFFERENT CAPACITIES -- WAS
CENTER HILL -- THE FIGHTING
FIRST CONTEST CONSTITUENTS WILD
P. JEANNIE A NOR HIS.
HIS HIS CRIES FOR HELP.
A IT'S JUST BEEN AN AMAZING
EXPERIENCE GOING THROUGH THIS
PROCESS AND FOR ANYONE TO
SUGGEST THAT THAT WERE RUSHING
INTO A A LAST MINUTE ACTION
HASN'T BEEN HERE. FOR THE LAST
TWO YEARS. TO DEAL WITH THE THE
THE NUMEROUS AMOUNT OF ISSUES
THAT WE'VE BEEN JUST.
AGONIZING OVER HOPING.
I WISH WE HAD DONE THIS A YEAR
AGO.
I THINK WE NEEDED TO DO THIS A
YEAR AGO I NEED WE NEED TO DO
SOMETHING TO BRING SOME REFORM
TO A PROCESS IS BROKEN.
NOBODY CAN IN GOOD FAITH STAND
HERE AND DEFEND THE STATUS QUO.
WHEN IT'S PHILLY IN SO MANY
PEOPLE'S FAILING?
OF THE RATE PAYERS IT'S FAILING.
THE PEOPLE THAT ARE NOW STANDING
ON THE LINE ASKING FOR HELP THE
VICTIMS THERE SO NUMEROUS NOW.
SO IT'S IT'S HARD TO LOOK AT
THIS ACTION IS THIS IS OF A
MASSIVE BILL AND IT'S SURPRISING
TO ME I JUST WANNA ALSO.
I GIVE SOME KUDOS TO EVERYONE
HERE THE GOVERNOR'S OFFICE FOR
YOU KNOW EVERY SINGLE LITTLE
BILL NO MATTER WHAT IT DOES IS
IS.
IS IS GOOD AT DERIVING
OPPOSITION IN SUPPORT.
AND THIS BILL.
DOES NOT HAVE A LONG LIST ON
EITHER COLUMN WHICH TELLS ME.
IT'S A PRETTY DARN GOOD MEASURE.
AND AND THOSE ARE USUALLY THE
GOOD LOS RIGHT THE ONES THAT
[inaudible]
THAT THE FIND IT HARD TO FOLLOW
TO GET A LONG LIST OF SUPPORT.
FOR AND ALONG LIST OF
OPPOSITION BEFORE SO.
BUT I AM LOOKING AT THIS BILL IN
THE VARIOUS CODE SECTION SAYING
THIS IS THINK THINGS THAT WE
HAVE DISCUSSED FOR TWO YEARS.
THIS IS NOTHING NEW THIS IS NOT.
A NEW ID -- THERE THERE THERE
WERE A LOT OF THINGS THAT WE
DISCUSS OR PUT ON THE TABLE.
WE SYSTEMATICALLY REMOVED SOME
THINGS FROM THE TABLE CUP CAPS
ON OTHERS ON THERE'S A LITTLE.
BIT OF RED MEAT FOR THE MASSES
IN HERE THAT I I JUST DISAGREE
WITH -- IN IN THE WAY --
ESPECIALLY FOR THE UTILITY THAT
I REPRESENT.
BUT I FEEL HAS BEEN DOING A GOOD
JOB IN IN IN HARDENING THE GREAT
IN SAN DIEGO AND BECOMING MORE
RESPONSIVE.
AND BRING IN THE THE RIGHT
TALENT. TO SERVE -- TO TO BE
PART OF THE SOLUTION.
IN SAN DIEGO THE MESSAGES.
WE'RE GOING TO DO EVERYTHING WE
CAN REDUCE WILDFIRES OR ON OUR
UTILITY IS OUR PARTNER IN THAT
EFFORT AND IN HERE WE WE HAVE A
PROVISION.
PUNISHING THERE THE THEM AND ARE
THE WAY THEY COMPENSATE.
THEIR OFFICERS AND THEIR TOP
LEVEL STAFF THAT'S FOR ME READ
ME FOR THE MASSES PUTTING SOME
AND HERE'S SHOWS THAT WERE HARD.
ON THE UTILITIES WE NEED TO BE
HARDER WHAT WILDFIRES.
AND AND I DISAGREE WITH THAT
PART OF THE BILL I THINK IT'S
GOING TO HAVE UNINTENDED
CONSEQUENCES GOING DOWN THE LINE.
ESPECIALLY FOR MY UTILITY.
I CAN ARGUE PIDGIN PIDGEON A
DESERVES IT.
AND AND P. GINNY THAT NEED SO
IT'S KIND OF CODES BECAUSE THEY
HAVE THEY HAVE STRUGGLED WITH
THE HAVING A SAFETY CULTURE.
OF I DON'T I CAN'T SAY THAT FOR
FOR SAN DIEGO AND I DON'T KNOW
WHY WERE PUNISHING THEM.
BUT LARGELY IF YOU READ THIS
BILL.
IF YOU LOOK AT THE PROVISIONS OF
FAT BILL.
AND IF YOU GO THROUGH THE
PROVISIONS THIS IS.
A BILL THAT EMPHASIZES PUTS.
UP MAKES OF A VALUE STATEMENT
ABOUT HOW THREATENING WILDFIRES
ARE AND WHAT WE NEED TO DO THE
HARD IN THE GRID.
AND THE THE BILL TALKS ABOUT HOW
WE'RE GOING TO HARD IN THE GRILL.
GRID.
AND AND HOW WE'RE GOING TO HOLD
THE CHILES OF ACCOUNTABLE FOR
HARD IN THE GRID.
BUT MANY THE REASONS ARE GREAT
IS IS IS WEEKEND IS BECAUSE OF
THE UC HAS NOT AUTHORIZED.
A LOT OF THOSE INFRASTRUCTURE
IMPROVEMENTS BECAUSE THEY
INCREASE RATES.
AND FOR PEOPLE TO COME HERE
TALKING ABOUT IT YOU KNOW OF
SURE THE STRENGTHENING THE GRANT
THAT COSTS MONEY AND THEY TALK
ABOUT A PERFECT WORLD IN A
PERFECT WORLD IT WOULD BE FREE.
TO HARDEN THE GRID BUT IT'S NOT
TRUE.
THANK KEEPING RATES LOW I THINK
HAS BEEN.
THE NUMBER ONE DIRECTIVE.
OF THE P. YOU SEE AND TURN AND
THIS LEGISLATURE AND ALL OF
ADVOCATES ARE ALWAYS FIGHTING
FOR KEEP RATES LOW BECAUSE
HAVING LOW RATES ARE ESSENTIAL.
TO CALIFORNIANS QUALITY OF LIFE
IN OUR ECONOMY AND ENSURING THAT.
PEOPLE THAT CAN AFFORD TO PAY
FOR POWER HAVE POWER IN THEIR
HOMES BECAUSE IT'S SO.
ESSENTIAL. TO PEOPLE'S HEALTH
AND WELL BEING AND THE IN MY
DISTRICT IF YOU DON'T HAVE AIR
CONDITIONING YOU CAN DIE.
AND IF YOU CAN'T AFFORD IT YOU
CAN DIE.
AND SO THAT'S WHEN WE'RE TALKING
ABOUT KEEPING RATES LOW WE'RE
TALKING ABOUT MAINTAINING
PEOPLE'S LIVES AND SOME OF THE
SOME PARTS OF THE STATE
[inaudible]
SO YOU.
WE'RE MAKING A A STATEMENT HERE
THAT.
HAVING POWER HAVING ENERGY IS
ESSENTIAL TO OUR WELL BEING IN
OUR PROSPERITY IN OUR STATE'S
ECONOMY AND OUR OF OUR HEALTH.
AND THAT'S WHAT THE BOOK BILL IS
MOSTLY ABOUT IT'S ABOUT HARDEN
IN THE GREAT IT'S ABOUT MAKING
IT SAFE TO ABOUT BEING-RESPONSIVE.
AND IF YOU YOU CAN'T LOOK AT AT
THE BILL ON ITS OWN BECAUSE WE
HAVE ALSO ENACTED OTHER LAWS.
SB NINE OH ONE WHICH IS -- WHICH
IS IN PARTNERSHIP WITH THIS
BUILDING SB -- TEN TEN TWENTY
EIGHT WELL.
BY OUR VERY OWN CENTER HILL THAT.
REQUIRES I OWE YOU ELECTRIC
UTILITIES TO FILE ON YOU WHILE
FIRE MITIGATION PLANS.
AND A HOST OF OTHER BILLS THAT
GET TO PUBLIC.
SAFETY AND BE MORE RESPONSIVE
AND SETTING ASIDE MONEY AT IN
THE BUDGET TO MAKE OUR OUR CAL
FIRE -- EQUIPPING THEM WITH THE
EQUIPMENT THEY NEED TO FIGHT
FIRES AND OUR OUR FORESTRY
PROGRAM GIVING THEM THE
RESOURCES THEY NEED. TO TO
REDUCE WIRE FILED OUR FLOORS
AGIAN I MEAN I COULD GO ON AND
ON AND ON AND I WON'T FOR THE
PURPOSES OF GETTING THROUGH THIS
BUT WE HAVE MADE.
NUMEROUS NEW THE TAKEN NUMEROUS
EFFORTS PASSED SEVERAL BILLS
THAT GET TO BECOMING MORE
RESPONSIVE TO WILDFIRES REDUCING.
THE INTENSITY OF OUR WILDFIRES
AND HOPEFULLY.
ELIMINATING WILDFIRES IF THAT'S
EVEN AT ALL POSSIBLE BUT NO WE
IN.
THAT IN THE CASE WE'D WE DON'T
DO THAT WE CAN GO OUT OF
BUSINESS HERE.
IN TERMS OF BEING ABLE TO
PROVIDE PEOPLE WITH WILLOW
TRICITY SO AND ADDED MOVE THE
BILL THE PUBLIC TIMES GERMAN
THANKS VERY MUCH -- CENTER
HERTZBERG SO THAT'S MY THAT'S MY
ARGUMENT WHY WE NEED THIS BILL.
IT'S WAY LONG OVERDUE.
AND I'M FINALLY I'M GLAD THAT WE
HAVE.
BEEN ABLE -- TO THE MOST MEMBERS
OF STATE -- THAT ARE HERE HAVE.
PUT IN A LOT OF TIME TO GET TO
WHERE WE ARE TODAY AN ENORMOUS
AMOUNT OF TIME.
AND I WANT TO THANK THE AUTHORS
OF THIS BILL FOR STEPPING OVER
THE PART OF THE SOLUTION.
AND AND I KNOW THAT ALL OF YOU
HAVE BEEN PART OF THE SOLUTION
FOR THE LAST TWO YEARS.
IN IN IN HAVING THIS DEBATE AND
DIALOGUE IN RAISING THESE ISSUES
AND GO THROUGH THE STEPS.
AND AGAIN -- WE HAVE A MOTION
AND IF DID YOU WANT TO MAKE
CLOSING COMMENTS -- EACH OF IT
DID EACH OF YOU ONE OF MICHAEL
AND CLOSING COMMENTS OR RAISE
YOUR AND YOU WANT MY CLOSING
COMMENTS OKAY.
THANK YOU MISTER CHAIRMAN.
I JUST -- IN IN OUR CLOTHES I-KNOW THIS IS BEEN A ROBUST --
HEARING.
AND I'M HEARTENED BY IT IN FACT
I WOULD SUGGEST TO YOU THAT MY
FIFTH YEAR IN THE LEGISLATURE
NOW -- THIS COMMITTEE HAS BEEN --
ONE AFFECTED HAS BEEN THE BEST.
IT IS OBVIOUS THAT YOU ALL HAVE
DONE YOUR HOMEWORK AND THIS IS
SOMETHING THATHAS BEEN --
DELIBERATED ABOUT NOW.
FOR SOME TIME.
I ONE OF MY POLITICAL MENTORS
POLICY MENTORS THAT TOLD ME CHAD
WATCHER PRONOUNS.
IT'S NOT I IT'S WE AND AS A
YOUNG ELECTED OFFICIAL A MEMBER
WAS HARD FOR ME TO GET OVER THAT
SOMEWHERE TO SAY AYE AYE AYE AND
THE REALITY IS IS WE WE WE WE IN
THIS LEGISLATURE HAVE A
RESPONSIBILITY. TO BE ABLE TO
ACT IN AS IT'S BEEN SAID.
AT A COST OF INACTION IS GREATER.
THAN THAT THAN ACTING AND WHAT
WE HAVE BEFORE US TODAY IF ANY
ONE OF US WERE TO A CRAFT A BILL
THAT WOULD LOOK DIFFERENTLY THAN
THE ONE BEFORE US.
BUT THIS WASN'T DONE BY ANY ONE
OF US IT WAS DONE BY ALL OF US
WHO WERE WILLING TO ENGAGE.
I ALSO WANT TO THANK THE CHAIR I
WANT TO THANK US SENATOR
ERTZBERG ARCTIC SENATOR DODD I
WANT TO THANK A VICE CHAIR MORE
LOCK FOR THE TIME THAT WE SPENT.
ON THIS I KNOW THAT -- SWIMMER
HOLDEN AND A SOME OF OUR BURKE
WE SPENT WAY TOO MUCH TIME
TOGETHER OVER THIS -- AND ALSO I
A LOT OF PRAISE NEEDS TO GO OUT
TO THE ADMINISTRATION OF FOR THE
WORK THAT THEY HAVE DONE THEY'VE
LISTENED TO ALL OF US AND THEY
PRESENTED US WITH A FRAMEWORK.
FOR THIS LEGISLATURE TO BE ACT
ON FOR THOSE WHO SPOKE UP BUT
TODAY AND SAID THAT THEY WERE
NOT I'M GOING TO BE ABLE TO
SUPPORT THIS TODAY BECAUSE THERE
WAS A THERE WAS SOMETHING ABOUT
IT THAT WASN'T RIGHT IT WAS A
MISSED OPPORTUNITY OR MAYBE.
THERE'S A CALM ON THE WRONG
PLACE OR PERIOD IN THE WRONG
PLACE OR OR MAYBE THEY JUST
DON'T TRUST THE ADMINISTRATION
EITHER SOMETHING IN HERE BECAUSE
IT IS -- VOLUMINOUS AND THEY
THEY'RE SCARED THERE'S SOMETHING
IN HERE THAT COULD CAUSE THEM
SOME POLITICAL TROUBLE I WOULD
ASK YOU A TODAY. TO BE ABLE TO
SUPPORT BY THIS MEASURE I DO
BELIEVE THAT -- THAT THIS IF WE
DON'T FIX THIS PROBLEM IT COULD
BE AN EXISTENTIAL THREAT TO
CALIFORNIA.
TODAY IT IS OUR TURN TO ACT IT
IS A RESPONSIBLE THING FOR BOTH
REPUBLICANS AND DEMOCRATS TO BE
ABLE TO STAND UP AND ACT ON
BEHALF OF THE PEOPLE CALIFORNIA.
AND SO I URGE AN AYE VOTE.
I JUST WANT TO THANK THE SENATOR
IS NOT JUST THE ONES THAT HAVE
FOCUSED ON THIS PARTICULAR ISSUE
BUT AS WELL SOME OF THE OTHERS
SENATOR CENTER RUBIO FOR SOME OF
YOUR CONCERNS AND INSURANCE --
STERN FOR THE TIME YOU SPEND AND
LOOKING AT ALL THE ISSUES
SURROUNDING ISSUES -- I ALSO
WANT TO APOLOGIZE TO THE VICTIMS
I THINK WE WE FAILED ON ON SOME
LEVEL THIS TOOK TOO LONG.
ON THIS AND ALL OF THAT
PREVENTION AND MITIGATION ISSUES
THAT WERE GOING INTO IN
INSURANCE ISSUES THAT WERE TAKEN
SO LONG TO ADDRESS AND I THINK
THEY DESERVE AN APOLOGY.
OF FOURTEEN HUNDRED DAYS OUTSIDE
OF YOUR HOME IS WAY TOO LONG
PEOPLE JUST WANT TO GO HOME.
THEY WANT TO MOVE BACK TO WHERE
THEY RAISE THEIR FAMILIES WE MET
KIDS IN PARADISE.
THAT WERE AFRAID THAT THEY WOULD
NEVER GO HOME.
SO FOR THEM I APOLOGIZE TO ALL
THE VICTIMS THAT ARE HERE TODAY
AND TO THOSE THAT ARE THAT ARE
NOT HERE TODAY -- BUT I THINK
THIS MEASURE DOES SHOW THAT WE
DO CARE NOT JUST ABOUT REPAIRS
BUT ABOUT VICTIMS.
AND THE UTILITY STABILITY IS NOT
JUST ABOUT A UTILITIES IT'S
ABOUT CALPERS CAL STIRS.
OTHER TEACHERS WHO HAVE INVESTED
IN THESE UTILITIES IT'S EACH ONE
OF US WHO ACTUALLY HAVE TO
PROTECT THE INVESTMENT OF SO
MANY OF THOSE A CALIFORNIANS
THAT HAVE.
INVESTED IN UTILITIES AND
WHETHER THAT IS THERE ARE
ENVIRONMENTAL MEASURES OR
WHETHER THAT IS OUR ACTUAL
PAYCHECKS.
THAT WE HAVE PUT BEHIND SOME OF
THESE I UTILITIES WE OWE THEM.
TO STAND FIRM DISTINTA CATHER.
AND WITH THAT I I RESPECTFULLY
ARREST REQUEST AN AYE VOTE AND I
APPRECIATE MY COLLEAGUES I HAVE
SPENT A TREMENDOUS AMOUNT OF
TIME WITH MY ASSEMBLY MEMBER
COLLEAGUES AND MY CENTER
COLLEAGUES ON THIS.
ON THIS ISSUE AND I THINK YOU
FOR YOUR BOLDNESS THIS IS NOT
EASY BUT IT'S GOOD AND I ALSO
WANT TO THINK THE GOVERNOR'S
OFFICE.
ON IT'S BEEN A ROCK STAR AND
LISTENING TO ALL OF US IS NOT
ALWAYS EASY THERE'S A LOT OF
VOICES WE ARE A MIXED BAG OF
NUTS -- TO SAY IT MILDLY.
SO TO COME LIKE WE'VE ALL SAID
TODAY TO HAVE SO MUCH SUPPORT I
WANT TO THANK YOU FOR LISTENING
TO US I WANT TO THANK YOU TO
LISTENING TO THE VICTIMS.
AND LIKE I SAID I RESPECTFULLY
REQUEST UNABLE.
MISTER CHAIR I'D LIKE TO THANK
YOU AND I'D LIKE TO THINK OF
THIS COMMITTEE.
FOR A DIGGING INTO THIS ISSUE
AND ALLOWING US TO PRESENT THIS
BILL BEFORE YOU TODAY.
AS WAS OUTLINED -- THIS IS BEEN
SORT OF A CONTINUATION.
OF A PROCESS OF TRYING TO ENGAGE
IN A VERY DIFFICULT SET OF
CIRCUMSTANCES WE STARTED LAST
YEAR WITH UTILITIES.
SHOWING UP BASICALLY.
A SAYING HOW THEY FELT UNDER
SIEGE.
THE POTENTIAL IMPACT AND THE
FOCUS WAS ON DOING SOMETHING TO
REVERSE OR TO MODIFY INVERSE
CONDEMNATION.
WE WENT THROUGH A PROCESS TO
NINE A ONE LED BY.
A GERMAN DODD AND I THINK WE ALL
UNDERSTAND THAT THERE ARE OTHER
ISSUES THAT SURROUND THIS I
THINK WE RECOGNIZE LAST YEAR
THAT WE NEEDED TO MOVE VERY
AGGRESSIVELY AND WE DID.
THIS ISSUE HAS.
BEEN HANDLED AND OR OR DRESSED
IN A VERY.
PROACTIVE WAY UNDER.
THE PREVIOUS GOVERNOR.
JERRY BROWN.
BOB.
BUT NOW AFTER CAMPFIRE AND AND A
LARGE UTILITY A BANKRUPTCY.
WE START.
TWO THOUSAND NINETEEN AND WE ALL
DIDN'T OR HOPING THAT.
SB NINE NO ONE WOULD CARE IS A
LITTLE FURTHER.
BUT HERE WE ARE.
AND AS IT WAS POINTED OUT
EARLIER.
WHEN YOU HAVE A UTILITY GO INTO
BANKRUPTCY?
IT'S DRAGON VICTIMS RIGHT ALONG
WITH IT.
AND SO WE DO FEEL.
OUR HEARTS BREAK.
AND THE BREAKING AGAIN TODAY.
WHEN VICTIMS ARE REMINDING US OF
THEIR PERSONAL PAIN?
AND THE CHALLENGES THAT THEY'RE
DEALING WITH ON A DAILY BASIS.
SO THIS IS A A STRUCTURED
APPROACH.
THAT THE GOVERNOR HAS STEPPED
OUT ON IT HAS SHOWN LEADERSHIP.
ESPECIALLY WHEN NO REAL OPTION
WAS APPARENT THAT WAS GOING TO
BE PERFECT THAT WOULD MAKE
EVERYBODY FEEL GOOD.
THAT SOMEONE WAS GOING TO WALK
AWAY FROM THIS PART OF THE
PROCESS AND FEEL LIKE.
YOU KNOW WHAT THEY DID HERE SO
YOU KNOW WHAT IT DIDN'T GO AS
FAR AS WE NEEDED.
TO YOU KNOW IT IT'S JUST NOT
PERFECT ENOUGH [inaudible]
I WAS.
DRAGGING MY FEET AT FIRST.
I WASN'T SURE THAT WE CAN REALLY
GET THROUGH A PROCESS THAT WOULD
BE TRANSPARENT.
AND WOULD BE OPEN AND ENGAGING
TO THE PUBLIC AND THEN BE ABLE
TO HAVE SOMETHING.
KEYED UP.
NOT THERE YET BUT TEED UP. TO
GET DONE.
BY THE TWELFTH OF JULY
[inaudible]
BUT WE'RE ON PATH.
AND I THINK THAT THERE'S YEAH
BOTTOM LINE IS WE'RE TRYIG TO
FIX A CALIFORNIA PROBLEM
[inaudible]
THESE UTILITIES.
R. SO ENTER GO.
TO THE OPERATION OF THE STATE
AND OTHER BUSINESSES THAT ARE
IMPACTED AS A RESULT OF IT.
AND I JUST LOOK FORWARD TO
CONTINUE TO WORK WITH OUR
COLLEAGUES WHO HAVE.
VERY CRITICAL IMPORTANT ELEMENTS
THAT TIE INTRICATELY INTO THIS
THAT ARE YET IN THE IN THE FOUR
CORNERS OF THIS BILL.
BUT NEED TO BE ADDRESSED.
OUR COLLEAGUE FROM SAN FRANCISCO
LAYS OUT VERY CLEAR FORWARD
THINKING IDEAS AND THAT'S
IMPORTANT.
AND I I CAN ONLY HOPE THAT
YOU'LL STILL YOU STILL SEE FIT
TO SUPPORT THIS BECAUSE OF THE
UTILITIES ARE DESTABILIZED.
AND THEY WERE IN THE NEXT TO GO
IS SOUTHERN CALFORNIA EDISON
JUST ON A DOWNGRADE THE IMPACT
ON THE REPAIR COSTS IS GOING TO
GO UP EVEN MORE.
SO AS WE TRIED AT LEAST CALM THE
WATERS.
AND GET TO A PLACE WHERE WE CAN
GET OUR ARMS AROUND AND AND
SOONER THAN LATER. TO ADDRESS
THE KIND OF DISTRIBUTED ENERGY
RESOURCE ROLE THAT CAN BE PLAYED
DOWN THE ROLE IT'S IT'S GOING TO
HAPPEN.
BUT RIGHT NOW THE FOCUS OF THIS
BILL IS TO TRY TO MAKE SURE THAT
WE TAKE CARE OF AN INDUSTRY THAT
[inaudible]
RIGHT FRANKLY.
WE'VE GOT ONE QUESTIONABLE
PLAYER WHO'S IN BANKRUPTCY
[inaudible]
AND I HAVE NO HERE TO PULL OUT
BUT THEY WOULD CAUSE ME TO PULL
IT OUT IF I HAD IT.
BUT I LOOK FORWARD TO THIS
COMMITTEE -- SUPPORTING THIS
BILL I RESPECTFULLY ASK HER
ABOUT.
WE HAVE A MOTION -- CLERK PLEASE
CALL THE ROLL [inaudible]
MISS CLARK [inaudible] ONE AB
TEN FIFTY FOUR DE PASO
PROCREATION SENATOR WAS SO.
WITH SO I MORE LOCK.
BRADFORD.
BRADFORD AYE KING.
DODD.
DODD AYE HERTZBERG.
HERTZBERG AYE HILL HILL AYE
MCGUIRE MCGUIRE AYE RUBIO.
RUBIO AYE SKINNER.
SKINNER AYE STERN STERN AYE
STONE.
NO NO WIENER.
WIENER NO [inaudible] NINE BILL
IS OUT.
NINE TO TWO WE'RE NOW A JOURNEY
IN SESSION