WELCOME YOU TO THE JUNE TWENTY
NINTH EDITION OF THE SENATE
ENERGY UTILITIES AND
COMMUNICATIONS COMMITTEE.
BEFORE WE GET INTO THIS
MORNING'S HEARING WE WOULD LIKE
TO BE ABLE TO GO THROUGH A FEW
HOUSEKEEPING ITEMS. ON TODAY'S
FILE WE ONLY HAVE ONE BILL
THAT'S SB THREE FIFTY BY
SENATOR HILL. AND WE'RE GOING
TO WELCOME THE PUBLIC'S
PARTICIPATION IN TWO DAYS HERE
AND WE WILL LOOK FORWARD TO
HEARING FROM EACH AND EVERYONE
WHO ARE ON THE LINE IT'S GONNA
BE THREE WAYS THAT FOLKS CAN
PARTICIPATE IN TODAY'S HEARING.
NUMBER ONE RIGHT HERE IN THE
SENATE CHAMBERS NUMBER TWO
WE'RE GONNA WELCOME REMOTE
PARTICIPATION IN ROOM TWENTY
FORTY. BE A VIDEO OR YOU CAN
JOIN US ON OUR LIVE LINE. IF
YOU'D LIKE TO BE TO PARTICIPATE
IN TODAY'S ENERGY HEARING
PLEASE DIAL EIGHT FOUR FOUR.
TWO NINE ONE. SIX THREE SIX
FOUR THE CODE IS ONE FOUR ONE.
SIX EIGHT FIVE THREE. FOLLOW
THE PROMPTS ON YOUR SCREEN NOW
DIAL IN HIT THE CODE AND WE
LOOK FORWARD TO HEARING FROM
YOU IN JUST A FEW MOMENTS.
LADIES AND GENTLEMAN THAT TODAY
HE IS BITTER SWEET IT'S A
BITTERSWEET MOMENT BECAUSE-
THIS MAY BE THE LAST BILL THAT
SENATOR HILL PERTAINS. IN THIS
COMMITTEE. THAT SENATOR HILL
HAS HAD. IT HAD AN ILLUSTRIOUS
CAREER HERE IN THE LEGISLATURE
FIRST IN THE ASSEMBLY AND NOW
IN THE SENATE. SENATOR HILL HAS
A LEGACY OF KEEPING
CALIFORNIANS SAFE THROUGH HIS
ACTIONS ON HOLDING UTILITIES
ACCOUNTABLE SENATOR HILL WE
WANNA TAKE A MOMENT TO
ACKNOWLEDGE YOU. YOUR HARD
WORKING YOUR DEDICATION NOT
JUST TO THE CONSTITUENTS AT
HOME TO EVERY CALIFORNIANS THE
FLOOR IS YOURS TO BE OUR
PRESENT SB THREE FIFTY THANK
YOU AGAIN SENATOR HILL. THANK
YOU THANK YOU VERY MUCH MISTER
CHAIRMAN TO. THANK YOU. THANK
YOU THE HE- I DON'T KNOW WHERE
TO START NOW- BUT BUT THANK YOU
FOR THE FOR THE RECOGNITION AND
IT HAS TRULY BEEN AN HONOR-
AND- THANK YOU FOR THIS
OPPORTUNITY THIS MORNING TO
PERCENT- SB THREE FIFTY IT'S
BACK ON CONCURRENCE WITH THE
AMENDMENTS TAKE IT IN THE
ASSEMBLY HAVE REALLY TRANSFORM
THIS BILL TO THE GOLDEN STATE
ENERGY ACT. LAST YEAR AS YOU
WERE THE LEAD IMPOSED STRICT
CONDITIONS ON P. JEANNIE TO
EXIT BANKRUPTCY AS A
TRANSFORMED UTILITY THIS BILL
SB THREE FIFTY HOLDS P. JEANNIE
ACCOUNTABLE FOR MEETING THOSE
REQUIREMENTS AND PROVIDE OUR
STATE WITH A FAIL SAFE IN CASE
THE NEW P. JEANNIE FALL SHORT
OF EXPECTATIONS. SB THREE FIFTY
AUTHORIZES THE CREATION OF A
NEW ENTITY GOLDEN STATE ENERGY
A NON PROFIT PUBLIC BENEFIT
CORPORATION WHICH WOULD STEP IN
AND TAKE OVER IF P. JEANNIE
FAILS TO EMERGE FROM BANKRUPTCY
FOR THE P. JEANNIE FAILS TO
TRANSFORM AS REQUIRED. BY AB
TEN FIFTY FOUR. I SAID THIS
MANY TO. SB THREE FIFTY IS A
BILL I HOPE WE NEVER NEED.
BECAUSE IF IT'S FOR THE BEST BE
THREE FIFTY IS TRIGGERED IT
WOULD MEAN P. JEANNIE HAS
FAILED US ONCE AGAIN. AND WE
ALL KNOW THAT THE STATE CANNOT
AFFORD FOR P. JEANNIE TO FAIL
US AGAIN WITHOUT HAVING A
BACKSTOP IN PLACE. I THANK
MICHAEL AUTHORS ON THIS MEASURE
ASSEMBLY MEMBER HOLDEN IT
SENATORS DODD AND SENATOR
MCGUIRE. WHO ARE HERE TODAY.
WHO HAVE CARRIED THE VISION
WITH ME ON TRANSFORMING PGA.
CALLING JUST BE THREE FIFTY IS
IN A BILL WE WANT. WE WANT IS
FOR P. JEANNIE TO BE A REFORM
UTILITY BUT IT IS A BILL WE
NEED. TO PROTECT P. GENIES RATE
PAYERS AND THE STATE OF
CALIFORNIA. I RESPECTFULLY ASK
YOUR RIVAL CALLING. THANK YOU
SO MUCH CENTER HILL MEMBERS WHO
ARE NOW GOING TO BE GOING TO
THREE WAYS OF PARTICIPATION
WE'RE GONNA START RIGHT HERE IN
THE SENATE CHAMBERS WERE GONNA
WELCOME ANYONE IN THE PUBLIC
IN SUPPORT FOR LOOKING FOR
SUPPORT AND SB THREE FIFTY.
HEARING AND SEEING NO ONE RISE
ARE NOT GOING TO BE GOING TO A
REMOTE HEARING ROOM ONE ROOM
TWENTY FORTY ROOM TWENTY FORTY.
IF ANYONE LIKE TO BE TO SPEAK
IN ROOM TWENTY FORTY HEARING
SEE WHEN NO ONE RISE WE'RE NOT
GONNA BE GOING TO OUR LIVE
LINE. WE'RE GONNA BE GOING TO
OUR LIVE LINE IF YOU'D LIKE TO
BE AT A PARTICIPATING TODAY'S
HEARING PLEASE DIAL EIGHT FOUR
FOUR. TWO NINE ONE SIX THREE
SIX FOUR THE CODE. ONE FOUR ONE
SIX EIGHT FIVE THREE SIMPLY
FOLLOW THE PROMPTS ON YOUR
SCREEN. WE'RE GONNA SAY GOOD
MORNING TO MADAME MODERATOR
MIGHT A MODERATOR IF YOU CAN
PLEASE QUEUE UP. ALL THOSE WHO
ARE IN SUPPORT OF SB. THREE
FIFTY THE FLOOR IS YOURS MADAME
MODERATOR. THANK YOU IF YOU
WOULD LIKE TO SPEAK IN SUPPORT
OF SB THREE FIFTY PLEASE PRESS
ONE AND THEN ZERO AT THIS TIME.
BRING TO GIVE IT A FEW MOMENTS
AS THE MODERATOR GETS FOLKS IN
THE QUEUE AGAIN PLEASE DIAL
EIGHT FOUR FOUR. TWO NINE ONE
SIX THREE SIX FOUR IF YOU'D
LIKE TO BE TO PARTICIPATE IN
TODAY'S HEARING ARE CURRENTLY
LOOKING FOR THOSE WHO ARE IN
SUPPORT. MEMBERS WE HAVE TWO
INDIVIDUALS FROM THE GOVERNOR'S
OFFICE WILL BE ON THE LINE
TODAY TO BE ABLE TO ANSWER ANY
TECHNICAL QUESTIONS. FIRST OFF
WILL BE ANTHONY WILLIAMS
SECONDLY WILL BE RACHEL
WAGONER. TO BE ABLE TO ADVANCE
OUR FIRST PRIMARY WITNESS WE'RE
GOING TO TURN THE FLOOR OVER TO
MARY ROSE TO ROUTE HE'S FROM
RECLAIM OUR POWER UTILITY
JUSTICE CAMPAIGN. VERY ROSE YOU
HAVE THREE MINUTES THE FLOOR IS
YOURS. GOOD MORNING IT
WONDERFUL TO BE HERE THANK YOU
SENATOR HILLS FOR INTRODUCING
AT THE THREE SIXTY I AM VERY
RESTAURANTS WITH EVERY CLAIM
ARE POWERED. HE OR THE-
CALIFORNIA COLA. REPRESENTING
TEND OF THOUSANDS OF PEOPLE
FROM ENVIRONMENTAL JUSTICE.
WILDFIRES SURVIVOR LOCAL CLEAN
ENERGY AND YOUTH GROUPS ALL
CAMPAIGNING. FOR UTILITY
JUSTICE TO MOVE AWAY FROM THE
DANGEROUS EUGENIE PRIVATE
CORPORATE MODEL. THE KIND THAT
MAKES IT ELIMINATING WHAT WE
BELIEVE. THAT ENERGY IS A HUMAN
RIGHT NOT TO BE SOLD ONLY TO
THOSE WHO CAN AFFORD IT. THE WE
NEED OUR LIVE AND SHELTER IN.
THE REQUIREMENT HARD SUPPORT
THE CONCEPT OF SB THREE SIXTY
AND IS READY FOR TWENTY FIRST
CENTURY UTILITY THAT
DEMOCRATICALLY CONTROLLED BY
THE COMMUNITY IS MOST IMPACTED
BY THE FIRES THE SHUT OFF THE
POLLUTION AND THAT WE HAVE A
VISION FOR PEOPLE'S ENERGY
SYSTEM THAT'S RESILIENT TO
CLIMATE CHANGE. WE ARE ALSO
VERY CONCERNED THAT THAT'S-
WHAT TRAINING. TO GET SB THREE
FIFTY HI. WE THE FRONTLINE AND
TO ME BEHIND IT IS WHY ANSWERED.
IN AND BY JUSTICE REPRESENT AND
THEY GOT. OF AND IT BY TO
DESIGNING NEW YEAR. THE
LEGISLATURE HAS PASSED MANY
BILLS THAT INCLUDE
ENVIRONMENTAL JUSTICE AND
DISADVANTAGED COMMUNITIES AND
DECISION MAKING AND
IMPLEMENTATION OF MAJOR CLIMATE
AND ENERGY POLICIES THAT FROM
EIGHTY THIRTY TWO THE OTHER
THING THAT THE RESET THE
COMMUTER 100% CLEAN ENERGY
GOAL. YOU AND COMMITTEE MAY NOT
BE ABLE TO AMEND SB THREE
THIRTY TODAY BUT LET'S FIND
ANOTHER WAY TO DO IT POSSIBLY
IN THE NEXT SESSION OR ANOTHER
WAY TO PUT ENVIRONMENTAL
JUSTICE IN GOAL AND GOLDEN.
STATE ENERGY THANK YOU. THANK
YOU SO MUCH FOR YOUR TODAY WE
YOU BEING WITH US WE'RE NOW
GOING TO BE GOING TO OUR
MODERATOR MODERATOR LET'S GO TO
OUR FIRST CALLER WE'RE LOOKING
FOR THOSE IN SUPPORT OF SB
THREE FIFTY. MADAME MODERATOR.
THANK YOU FIRST FOR GORE TO
LINE TWENTY ONE PLEASE GO AHEAD
GOOD MORNING. GOOD MORNING LINE
TWENTY ONE. LAST CALL LINE
TWENTY ONE. ALL RIGHT
METATRADER AB LET BETTER
MODERATOR LET'S GO DO AN
EXCELLENT POWER HAS. I TELL
THAT IT DID IF I GOT A NUMBER
THAT HE I WOULD THE LOOK CLEAN
AIR ALLOW AND THAT IN SUPPORT
WITH. BE A JUST THAT MERRY ROSE
TO ROUTE FROM A BRICKLAYER MY
POWER. THANK YOU SO MUCH WE
APPRECIATE IT GLAD TO GO THOSE
CALM INTO YOU FOR AND WITH US.
NOT A MODERATOR THIS TO OUR
NEXT CALLER PLEASE. THANK YOU
OVER TO LINE FIFTY. PLEASE GO
AHEAD. GOOD MORNING. HELLO IS
ME MY OWN IF YOU ARE GOOD MORE
YOUR LIFE AND COMMIT WE WELL
YOU. HELLO YES SORRY THE
OPERATOR JUST SAID WE'RE GONNA
BE CALLED BY NAME NOT BY
NUMBER- UNFORTUNATELY- I AM IN
SUPPORT IF AMENDED- WITH THE
AMENDMENTS OUTLINED BY. MARIE
ROSE TROOP- BY THEIR PLAN OUR
POWER. THANK YOU THANK YOU SO
MUCH WE APPRECIATE YOUR YOUR
PATIENCE WITH US THANK YOU FOR
YOUR CALL. META MODERATOR LET'S
GO TO OUR NEXT LINE PLEASE.
THANK YOU LINE SIXTEEN PLEASE
GO AHEAD. GOOD MORNING HI. HI
MY NAME IS GENTRY AGAIN I'M
WITH THE SUN RIGHT MOVEMENT AND
I SUPPORT IT'S AMENDED WHICH
REQUIRE POWER LANGUAGE THANK
YOU MS HIGGINS THANK YOU SO
MUCH FOR YOUR TESTIMONY TODAY.
BETTER MODERATOR LET'S GO TO
OUR NEXT CALLER PLEASE. THANK
YOU ALL RIGHT NINETEEN PLEASE
GO AHEAD. GOOD MORNING GOOD
MORNING. GOOD MORNING- MY NAME
IS GWEN BUT THE CALIFORNIA
ENVIRONMENTAL JUSTICE ALLIANCE
AND I'M HERE AS WELL TO SEE.
PORT AND I NEED WITH COULD NOT
LATELY. TWENTY YOU SO MUCH WE
YOUR- MADAME MODERATOR HOW MANY
FOR WE HAVE IN THE QUEUE. I
HAVE FIVE MORE IN Q. ALL RIGHT
NOT A MODERATOR LET'S GO TO OUR
NEXT CALLER PLEASE. LINE TWENTY
TO PLEASE GO AHEAD GOOD MORNING.
HI GOOD MORNING THIS IS SHIP UP
ITSELF ON THE ENERGY JUSTICE
CAMPAIGNER WITH THE CENTER FOR
BIOLOGICAL DIVERSITY ON BEHALF
OF OUR THOUSAND CALIFORNIA
MEMBERS LACKEY QUIRK WITH THE
AMENDMENTS OUTLINED BY A MAYOR
GOES TO WORK AND THE OUT. WE
CLEAN UP OUR THINK. THANK YOU
THANK YOU MISTER PATEL. LET'S
GO TO OUR NEXT CALLER MAY
MODERATOR. THANK YOU LINE SAN
PLEASE GOING GOOD MORNING.
HELLO MY NAME IS ON SHORE WHAT
THAT SAYS FRANCISCO CHAPTER THE
DEMOCRAT SOCIALISTS OF AMERICA
I MEAN SOME OF THE SPELL IF A
MAN WITH LANGUAGE. ZERO ZERO
THE RECLAIMER POWER. IS FORWARD
THANK YOU. WE APPRECIATE YOUR
CALL THANK YOU SO MUCH. MADAM
THAT'S GO TURN CALLER. WELL I
AM PLEASE GO AHEAD. HI MY NAME
IS YOUR CANNELLA I'M IN WITH
AND DEMOCRATIC SUCH AMERICA
CAME INTO CHAPTER AND AREA OF
THE NINE AND I. SB THREE FIFTY
A AMENDED WITH RECALL POWER
LANGUAGE THANK YOU THANK YOU
MISS LOWER WE PREACH YOUR TEST
TODAY. MADAME MODERATOR THE
SUCH A IN RETURN LINE. BLIND
NINE PLEASE GO AHEAD GOOD
MORNING. COULD NOT A GOOD NICK
NOW FOR HERNANDEZ THE HOUSE OF
YOU TO SHE'S MEAN YOU REFORM.
WHICH WAS FROM BUSY DECLARE
THAT THIS IF YOU SEE UTILIZE IT
AND HER STORY CHECKS THE- BE
NICE TO THINK YOU MUCH FOR YOUR
WE APPRECIATE IT. MATTER
MODERATOR WE GO OUR NEXT PLEASE.
THANK YOU LINE TWENTY PLEASE GO.
GOOD MORNING. THIS IS A AL
WONDER. COORDINATOR THE CAL
LINE RECALL ENERGY WE JOIN THE
OF FOLKS OF. THIS IS I RUN A
LONG A LOT. OF A REAL ARE
THOREAU NOW TO ENTER REPRESENTS
ARRIVED JUST GOING. IN THE GOV
OF THIS I HAVE HEARD. THANKS SO
MUCH APPRECIATE YOU CALLING THE
TODAY. MATTER MODERATOR WE GO
OUR NEXT PLEASE. THANK YOU
LYING TO SO PLEASE GO AHEAD.
YES MY NAE IS ANGIE A PET I'M
FOR THREE SONOMA. WE THE SP.
THREE IT IS IT'S AN AMENDED
ALONG WITH BEING OUR POWER
LANGUAGE. I THINK. THANK SO
MUCH FOR YOUR CALL WE YOUR-
MATAMATA NEXT CALLER. I HAVE NO
LINE THANK YOU AT TIME. MADAM
LET'S DO A LAST CALL CALL FOR
THE SINCE THE OF SB FIFTY I'M
SURE IT BACK OVER TO YOU MAY
MODERATE. THANK YOU IF YOU LIKE
TO SEE IN. OF SB FISH PLEASE
PRESS ONE AND THEN ZERO AT TIME.
ALL RIGHT META MODERATOR DO WE
HAVE ANYONE ELSE IN THE QUEUE.
THERE ARE NO LINES IN Q. AT
THIS TIME. DOING A GREAT JOB
THANK YOU SO MUCH BETTER
MODERATOR WE'RE NOW GOING TO GO
TO THOSE WHO MAY BE OPPOSE FOR
LOOKING FOR OPPOSITION
OPPOSITION. TO SB THREE FIFTY
WE'RE GONNA START RIGHT HERE IN
THE SENATE CHAMBERS IS THERE
ANYONE WISHING TO BE ABLE TO
STAND AND SPEAK IN OPPOSITION
OF SB THREE FIFTY. PLEASE DO SO
NOW. AARON SCENE NO ONE WANTED
TO SPEAK WERE NOW COULD BE
GOING TO A REMOTE HEARING ROOM
THAT'S ROOM TWENTY FORTY.
HEARING SEEN NO ONE IN THAT
HEARING ROOM WE'RE NOT GONNA BE
GOING TO THE PHONE LINES WE'RE
GONNA ASK ANYONE WHO WOULD LIKE
TO BE ABLE TO SPEAK IN
OPPOSITION OF SB THREE FIFTY.
TO PLEASE DIAL EIGHT FOUR FOUR.
TWO NINE ONE. SIX THREE SIX
FOUR. THAT CODE IT'S ON YOUR
SCREEN NOW ONCE YOU DIAL NINE
ONE FOUR ONE. SIX EIGHT FIVE
THREE. BETTER MODERATOR IF WE
CAN PLEASE GET THOSE FOLKS WHO
WOULD LIKE TO SPEAK IN
OPPOSITION CUED UP. UNDER TURN
IT OVER TO YOU MONO MATTER
MATTER MODERATOR. THANK YOU IF
YOU WOULD LIKE TO SPEAK IN
OPPOSITION TO SB THREE FIFTY
PLEASE PRESS ONE AND THEN ZERO
AT THIS TIME. WE'RE LOOKING FOR
THOSE WHO MAY BE OPPOSED TO SB
THREE FIFTY WE APPRECIATE
EVERYONE WHO IS PARTICIPATING
YOUR PATIENCE. NOT A MODERATOR
HOW WE LOOKING FOR THOSE IN THE
QUEUE. I HAVE NO LINES INC YOU
AT THIS TIME. META MODERATOR
I'M GONNA HAVE YOU DO A LAST
CALL LAST CALL FOR OPPOSITION
TO SB THREE FIFTY THE FLOOR IS
YOURS MATTER MODERATOR. THANK
YOU IF YOU WOULD LIKE TO SPEAK
IN OPPOSITION TO SB THREE FIFTY
PLEASE PRESS ONE AND THEN ZERO
AT THIS TIME. WE'RE DOING A
LAST CALL FOR OPPOSITION TO SB
THREE FIFTY LAST CALL. MATTER
MODERATOR TO HAVE ANYONE IN THE
QUEUE. THERE ARE NO LINES IN Q.
AT THIS TIME YOU'RE ALWAYS
FANTASTIC TO WORK WITH THANK
YOU SO MUCH MEADOW MODERATOR
WE'RE NOT GONNA BE BRING IT
BACK TO COMMITTEE WE LIKE TO BE
A TO SEE IF THERE'S ANYONE WHO
WOULD LIKE TO BE ABLE TO SPEAK-
HAVE COMMENTS. MISTER VICE
CHAIR GOOD MORNING SIR THE
FLOOR IS YOURS IN THIS WON'T
TAKE A MOMENT TO SAY THANK YOU
TO THE VICE CHAIR FOR WORKING
WITH US ON THIS HEARING TODAY.
THE VICE CHAIR THE FLOOR IS
YOURS THANK YOU MISTER CHAIR I
JUST HAVE A- JUST A FEW
OBSERVATIONS I DON'T KNOW IF I
WANT TO. MAYBE I JUST PRESENT
THEM SINCE I'M LOOKS LIKE I'M
THE ONLY ONE SPEAKING IN AND-
THE WORLD FAMOUS. SENATOR
HILTON. RESPOND TO THEM IT IS
CLOSING COMMENTS. BUT I'M A
LITTLE CONCERNED. MISTER CHAIR
ABOUT THE NATURE OF. WHAT'S
OCCURRING HERE IT. SEEMS LIKE.
GOD THE STATE IS TRYING TO
NATIONALIZE- A COMPANY AND I'M-
A LITTLE CONCERNED ABOUT HOW.
THAT OCCURS IN OTHER AREAS SO
I. I GUESS ONE OF THE-
QUESTIONS I WOULD HAVE IS. WHAT
OTHER EXAMPLES DO WE HAVE THAT
WE COULD. RESEARCH WERE A-
PRIVATELY. OWNED PUBLICLY OWNED
DEBT AND TRADED CORPORATION
WAS- BOUGHT OUT BY A- STATE. OR
OTHER GOVERNMENT- THAT WERE
WORKED IN AND I COULD. I COULD
LOOK AT IT I'VE I'VE LOOKED AT
THE HISTORY OF P. JEANNIE AND-
THEY GOT A REMARKABLE. HISTORY
ON WIKIPEDIA- BUT I'M ONE I'M
CONCERNED ABOUT. HOW IT WORKS
TO. WERE THE FUNDING COME FROM.
THE REPORT STATES IT COULD COST
UP TO FIVE POINT. EIGHT EIGHT
BILLION DOLLARS. AND SO WITH
THAT COME FROM THE RAINY DAY
FUND OR WOULD WE ASK CALPERS
YOUR CAL STIRS TO STEP IN- OR
WE CAN USE FUNDS FROM OUR
RETIREE MEDICAL TRUST OR WE
GONNA USE DEBT PROCEEDS. AND
THEN- HOW WOULD WE AS A
LEGISLATURE KNOW. HOW WOOD
PENCILS OUT BECAUSE WE
CERTAINLY WANT TO AVOID RATE
INCREASES. THE THIRD QUESTION.
I WOULD ASK IS- WE'RE WE'RE
SORT OF SAYING THAT WE'RE GOING
TO BID. FOR IT IF IT WERE IN
THE BANKRUPTCY- BUT- I JUST
WANNA KNOW HOW. THAT WORKS
BECAUSE THERE'S- A POINT ON
PAGE NINE OF THE STAFF REPORT
THAT. IS RATHER COERCIVE IN.
YOU KNOW ALMOST LIKE AN
IMMINENT CAN OF OFFER. WERE THE
FREE MARKET REALLY HAVE A
CHANCE TO PARTICIPATE. AND SO I
GUESS IT CLOSING MY CONCERNS
WOULD BE YOU KNOW. HOW WELL
WITH THE STATE OF CALIFORNIA
RUN. P. JEANNIE SURE THAT TAKE
OVER CONTROL- YOUKNOW TO GET
TO CYNICAL BUT I'VE- CERTAINLY
BEEN- FRUSTRATED WITH THE
EMPLOYMENT DEVELOPMENT
DEPARTMENT OF LATE TO THE DMV.
FISCALE WE DON'T EVEN HAVE OUR
KAFFIR OUT YET. OUR
COMPREHENSIVE ANNUAL FINANCIAL
REPORT WERE THE ONLY STATE THAT
HASN'T DONE THAT. AND WE ARE WE
HAVE ONE OF THE LARGEST
UNRESTRICTED NET DEFICITS AND
I'M JUST. YOU KNOW JUST REALLY
CONCERNED ABOUT WHETHER WE'RE
CAPABLE OF ACTUALLY RUNNING AN
OPERATION OF. OF THIS
SUBSTANCE. SO I GUESS- IN IN IN
THE CLOSING HOW DO YOU HOW TO
THE POSITIVES OUTWEIGH THE
MINUSES OTHER THAN. YOU KNOW
BUT JUST BEING A LITTLE STRONG
HANDED. THANK YOU MISTER
PRESIDENT. FOR MR MUCH. MISTER
VICE CHAIR AND IN TURN IT OVER
TO SENATOR HILL ARE THERE ANY
COMMENTS YOU'D LIKE TO MAKE TO
THE VICE CHAIR IS COMMON CITY
JUST ME. THANK YOU MISTER CHAIR
AND THANK YOU FOR THE QUESTION
THE FOR MY GOOD FRIEND FROM
RIVERSIDE WHO I ADMIRE AND
RESPECT- SO MUCH I. ADDITIONAL
SURPRISE WITH SOME OF THE
QUESTIONS AND COMMENTS BECAUSE-
ALL OF THAT INFORMATION WAS
LAID OUT IN THAT AN ALESIS AND
STAFF REPORT WHICH- CLEARLY
IDENTIFIES. CLEARLY ARTICULATES
THE FACT THAT THIS IS NOT A
PUBLIC. THIS IS NOT A
GOVERNMENT OWNED WOULD NOT BE A
GOVERNMENT FINANCED UTILITY IF
IT WERE TO. IN FACT COME TO
FRUITION OR IF THE
CIRCUMSTANCES. REQUIRED FOR
GOLDEN STATE ENERGY TO ASSUME
THE RESPONSIBILITY AND
OWNERSHIP OF THE COMPANY AND
FOR A NUMBER OF REASONS ONE.
THIS IS- WILL BE FORMED AND
NATIONALLY WITH THE BOARD OF
NINE MEMBERS FIVE APPOINTED BY
THE GOVERNOR TO FROM THE SENATE
TO FROM THE ASSEMBLY. AND THEN
AFTER THAT IT WOULD TRANSITION
IN THAT BOARD ORIGINAL BOARD
WOULD USING A SEARCH FIRM. TRY
TO FIND AND DEVELOP A BOARD US
STATURE AND- STRUCTURE. THAT
WOULD FIT CERTAIN SKILL SET
MATRIXES THAT ARE NECESSARY TO
OPERATE UTILITY. AT ALL TIME
THIS WOULD BE PROVIDED BE.
OWNED BY AT THE TIME OF THE
PURCHASE OWNED BY THE RATE
PAYERS NOT BY GOVERNMENT. AT
ALL GOVERNMENT WOULD NOT BE
FINANCING IT AS THE RIBBON
ALICE'S SAYS AND AS WE'VE
DISCUSSED PREVIOUSLY. THE
FUNDING AND FINANCING WOULD BE
SECURED THROUGH THE AYE BANK.
WHICH WOULD GIVE US THE- THE
MONEY THAT WOULD BE NECESSARY
AND- RATE PAYERS WOULD THEN BE.
PROVIDED THE RESOURCES BACK TO
THE AYE BANK INTO THIS THE
STATE TO. TO MEET THAT
OBLIGATION AND CERTAINLY BE
PASSING THAT ON TO THE- THE-
THE OF THE REPAIRS. THE
INTERESTING PART IS THAT IF YOU
HAD A YOU KNOW WE HAVE MANY
PUBLIC UTILITY **** IN FACT IN.
SACRAMENTO IS A GOVERNMENT
UTILITY. THAT THAT DOES PROVIDE
A GOOD SERVICE THIS IS A
HYBRID. PRETTY MUCH FROM A
PUBLIC GOVERNMENT OWNERSHIP TO
A RATE PAYER OWNED- UTILITY THE
BENEFIT OF THAT IS THAT AS A-
RATE PAYER OWNED UTILITY WE
WOULD BE AND ACCORDING TO THIS
SUBJECT TO THE REGULATIONS OF
THE PUBLIC UTILITIES COMMISSION
IF YOU KNOW PUBLIC. MUNICIPAL
YOU TO TODAY ARE NOT SO TO ANY
REGULAR AT THE- OF THE PEOPLE
BEGIN TO REACH COMMISSION OTHER
WAS A TIME WHEN I WOULD HAVE
PROBABLY SAID THAT'S NOT A BAD
THING. BUT TODAY WITH THE
REFORMED AND- STRUCTURE AND-
LEADERSHIP OF THE PUBLIC
UTILITIES COMMISSION THEY HAVE
THE ABILITY AND I BELIEVE WILL
DO- EXTRAORDINARY JOB OF
MANAGING. OVER SEEN THIS NEW
UTILITY. IT IS NOT NECESSARY
THIS IS SURELY DETERMINED THAT
IF CERTAIN THE CIRCUMSTANCES.
OCCUR THAT. GOLDEN STATE ENERGY
WOULD TAKE OVER OR IN FACT IF
P. JEANNIE FAILS IN THE FUTURE.
THAT WOULD BE LEFT TO THE
MARKET PLACE TO DECIDE THE
PUBLIC UTILITIES COMMISSION
WOULD CERTAINLY- THE REMOVE OR
TAKE AWAY THEIR THEIR LICENSE
OF CONVENIENCE AND NECESSITY.
OR CERTIFICATE OR LICENSE AND
IT OF NECESSITY AND- IT AND
THEN IT WOULD BE- UP TO THE P.
YOU SEE TO FIND WHATEVER BUYER
WOULD BE IN PLACE TO DO THAT.
GOLDEN STATE ENERGY IN THE
REASON WE'RE DOING THIS TODAY
IS TO POSITION ITSELF. AND SO
THAT THERE IS NO LAPSE OF
SERVICE TO WORK TO THE
CUSTOMERS THAT THERE IS AN
ENTITY IN PLACE. IF IN FACT IT
IS THE BEST. OFFER THE BEST A-
POSITION TO SECURE THAT THAT
THEY ARE READY TO DO THAT WE
DON'T WANT TO TAKE A CHANCE WE
DON'T WANT TO GAMBLE WITH THE
FACT WITH THE WITH THE REPAIRS
OR THE SERVICE. TERRITORY THE
SIXTEEN MILLION CUSTOMERS OF P.
JEANNIE HAS TODAY WE WANT TO
MAKE SURE THAT THERE IS
SOMEONE. IN PLACE THIS IS THAT
PLAN AND- IT IN THAT I THINK
I'VE ANSWERED EARLY SHOULD
ADDRESS SOME OF YOUR QUESTIONS
A- SENATOR. IT'S A VICE CHAIR.
I WANT TO THANK- THE CENTER
FOR- IS- THOROUGHNESS IS
RESPONSE ARE PRE SHADED JUST
CURIOUS. IN A RUNNING A
BUSINESS AND HAVING THE RATE
PAYERS BE THE STAKEHOLDERS-
WHAT WE'RE JUST GONNA RELY ON.
INSURANCE AND OTHER VEHICLES TO
MAKE SURE THAT WHEN SOMETHING
ELSE HAPPENS IN THE FUTURE.
THAT TODAY WOULD BE PROTECTED.
IT'S SO I GUESS MY QUESTION ME
WHAT SAFEGUARDS DO WE HAVE IN
PLACE. MINIATURE THANK YOU.
THERE OF ISSUES AND CERTAIN AS
THIS IS THE- AS A PUBLIC
BENEFIT NONPROFIT CORPORATION
BECAUSE OF THAT STATUS IT TOO
WILL BE PAYING NO STATE INCOME
TAX. SECONDLY IT WILL NOT BE
PAYING- AND THE- RATE OF RETURN
ON THOSE INVESTMENTS SO THERE'S
NO SHAREHOLDER PAYMENTS OR
DIVIDENDS TO SHAREHOLDERS WHICH
IS TODAY FOR P. JEANNIE AMOUNTS
TO A BILLION AND A HALF TO TWO
BILLION DOLLARS OF WHEN THEY
WERE A GOOD COMPANY WHEN THEY
BECOME ONE AGAIN- SO THERE'S A
COUPLE OF BILLION DOLLARS THERE
AS WELL AS A SAVINGS IN. IN
PERSONAL OF CORPORATE INCOME
TAX TO THE STATE THAT WOULD BE.
NOT SPENT AND SAVED SO IF YOU
LOOK AT THAT OVER A PERIOD OF
TIME. THAT MONEY YOU DOES LEAVE
THE RATE PAYERS RESPONSIBLE FOR
THAT LIABILITY WITH INSURANCE
WITH THE WILDFIRE FUNDS THAT WE
ESTABLISH LAST YEAR THAT WILL
PROTECT. THE UTILITY FROM A
TREMENDOUS AMOUNT OF THAT THAT
LIABILITY- BUT JUST AS IN THIS
LEGISLATION A PENALTY THAT WILL
IF. THE UTILITY FAILS IN SOME
REGARD AS GOLDEN STATE ENERGY
AND- A PENALTY IS ASSESSED
AGAINST THEM. WHERE IS IN A-
INVESTOR OWNED YOU THAT PENALTY
WOULD GO TO SHAREHOLDERS BY LAW
HERE IT WOULD GO TO THE RATE
PAYERS BUT- MY ASSUMPTION MY
FEELING AND WHY I SUPPORT THIS.
IS THAT THE SAVINGS OVER TIME.
BECAUSE OF THE RATE OF RETURN
IN THE AMOUNT OF INVESTMENT
THIS NECESSARY GOING FORWARD IN
INFRASTRUCTURE COSTS- TO HARDEN
AGREED IN TO MAKE IT WORK. IS
SUBSTANTIAL AND THAT SAVINGS
WILL BE SUBSTANTIAL FOR GOLDEN
STATE ENERGY SO THAT I BELIEVE
THE COST WOULD ACTUALLY BE A
SAVINGS TO THE RATE PAYERS IN
THE FUTURE. RATHER THAN A
GREATER COST. THANKS A MEASURE
OF YOUR CENTER THANK YOU MISTER.
THANK YOU SO MUCH WE HAVE QUITE
A FEW MEMBERS WOULD LIKE TO BE
A TO SPEAK MEMBER WE'RE GONNA
GO TO SENATOR WIENER WE'RE
GONNA GO TO SENATOR DOLLY.
CENTER STERN AND INTO OUR
MAJORITY LEADER CENTER WE KNOW
THE FLOOR IS YOURS. THANK YOU
RESERVE. SHARE. SO I THINK
SOMETIMES A IS THIS A SOME.
THAT THE A PRIVATE. CORPORATION
IS. ALL GOING TO BE A- BETTER
IN TERMS RUNNING SOMETHING A
YOU TO. BENJAMIN OPERATE
UTILITY IT'S GOING TO BE THAN
THE GOVERNMENT THAN A PUBLIC
BENEFIT AND I DON'T THINK THE
VALET. A SOME I THINK THE IS IN
THE RIGHT HERE P. GINNY HAS
BEEN A PRIVATE- SHAREHOLDER%
CORPORATION FOR YOU KNOW
CENTURY- MPG IS A COMPLETE
DISASTER- IT IS A BAD
COMPANIES. IT HAS COMPLETELY
FAILED IT IS BURNED DOWN ENTIRE
TOWN HAS ALLOWED ITS
INFRASTRUCTURE TO FALL APART-
IT IS IT IS IT'S A IT'S A
FAILURE AND I AND THAT SADDENS
ME TO SAY THAT BECAUSE- IT IS
OF IT AND THERE WON'T BE
ANYMORE BECAUSE THEY'RE MOVING
BUT IT'S BEEN A SAN FRANCISCO
COMPANY. AND IT'S A COMPANY
THAT HAS FAILED AS A
SHAREHOLDER OWNS PRIVATE
UTILITY MEANWHILE WE HAVE A
LONG HISTORY IN CALIFORNIA AND
AROUND THE COUNTRY BUT PUBLICLY
OWNED UTILITIES- THAT HAVE BEEN
VERY SUCCESSFUL INCLUDING RIGHT
WHERE WE ARE RIGHT NOW IN
SACRAMENTO. AS WELL AS LOS
ANGELES AND OTHER AREAS- WE
HAVE CITIES THAT RUN DIFFERENT
KINDS OF UTILITIES IN SAN
FRANCISCO WE HAVE A WATER
UTILITY WE HAVE A SEWER UTILITY
WE HAVE A SMALL ELECTRIC
UTILITY- AND THEY HAVE BEEN-
QUITE A SUCCESSFUL SO I DON'T
THINK IT'S INHERENT. THAT THE
PRIVATELY OWNED MODEL- WITH
UTILITIES IS BETTER AND IN THIS
CASE I THINK IT'S WORSE I YOU
KNOW I'D PERSONALLY I'M GOING
TO SUPPORT THIS BILL I
PERSONALLY DON'T THINK IT GOES
FAR ENOUGH AND OBVIOUSLY I
INTRODUCED A BILL EARLIER THIS
YEAR- TO GO IN THIS DIRECTION
FOR THE PUBLIC BENEFIT
CORPORATION NOW- AND NOT GIVE
TEACHING. YET ANOTHER CHANCE
PIGEON IS A PLENTY OF CHANCES A
HASN'T WORKED AND NOW WE HAVE
YET ANOTHER BANKRUPTCY AND ALL
A PROBLEM THAT WE'VE SEEN IN
RECENT YEARS THE OLD MY
PREFERENCE WOULD B. SYSTEM
START THE PROCESSING. THE TERM
PGT INTO A PUBLIC BENEFIT
CORPORATION- OBVIOUSLY
PERSPECTIVE ON THAT NOT.
PREVAIL IN THE LARGEST. AND THE
TO THE MARKETS AND I. ONE WHEN
I'M NOT ON THE WINNING SO OF IT
IS BUT I THINK THIS IS THE NEXT
BEST APPROACH TO SAY WE'LL GIVE
YOU THE ONE MORE. BUT THEN YOU
WILL BECOME A PUBLIC BY
CORPORATION OF DON'T GET IT
TOGETHER THE MORE BILL TODAY.
THANK YOU SO MUCH CENTER WIENER
BEFORE WE GO CENTER TO CENTER
HILLS ITEM LEAD TO COME ON. THE
YOU VERY MUCH THANK YOU MUCH.
BUDGET CENTER DOLLY THE FOR IS
YOURS. BUT THE YOU MANAGER FOR.
MAPS USING. MISTER CHAIRMAN.
HOUSING TO I WANT TO DO IS TO.
I READ THIS FOR. AND I WANTED
TO SHARE SOME THOUGHTS FIRST I
WANT TO KNOW KNOW THAT YOU.
THAT THERE BEEN A SEVERAL
PEOPLE. MY OVER THE- THAT I.
TRIED TO FIGURE OUT. A BETTER
SOONER THAN WHAT WE HAVE RIGHT
THEN AND I'M ONE OF THOSE
PEOPLE WHO IN MY SIMPLY
DISTRICT I REPRESENTED. A FOLKS
IN MIGUEL YOU WHICH WE LOST IT
WAS IN THE CAMP FIRE AND SO.
AND THEN ALSO THE CAR FIRE AND
I COULD GO ON AND ON AND ON.
ABOUT WHERE WE ARE TODAY WITH
OUR ELECTRICAL SYSTEM- MAINLY
P. JEANNIE BUT I WANT TO SHARE
SOME THOUGHTS AND- LOOK I
BELIEVE THEY'LL FAIL I DON'T
BELIEVE THAT THIS. WERE THE
WINDS BLOWING LIKE CRAZY OUT
THERE TODAY. IT'S BEEN BLOWN
EVERY DAY THIS WEEK AT LEAST-
THIS WEEKEND WHEN I WAS HOME.
AND IT'S DRY IN NO DOUBT WILL
PROBABLY HAVE A FIRE BECAUSE
THEY HAVE A STRUCTURES IS NOT
IN PLACE WHERE IT NEEDS TO BE.
RIGHT NOW TODAY. BUT THAT BEING
SAID I WANT TO SHARE SOME
THOUGHTS. I HAVE. THE
OPPORTUNITY TO LIVE IN A PLACE
WHERE I HAVE WHERE MY HOME IS.
I'M GONNA RULE ELECTRIC. AND
WAY BACK IN THE DAY WHEN WE
HAD. NO ELECTRICITY OUT THERE
THEY ACTUALLY INCENTIVIZED
AMERICA DID. WHAT THEY CALL
RULE ELECTRICS WE WERE ABLE TO
BOND OURSELVES. AND BRING
TRANSMISSION LINES CLEAR OUT
WHERE THERE WAS VERY FEW
PEOPLE. AND PUT IN A SYSTEM
THAT IS. ACTUALLY OWNED AND
OPERATED BY THE PEOPLE WE HAVE
AN ELECTED BOARD THEY RUN FOR
OFFICE. IT'S A NON PAID
POSITION. AND WE HAVE VERY.
REASONABLE RATES AND WE HAVE A-
SYSTEM THAT. IS NOT BURNING
DOWN MY COMMUNITIES. SO I WOULD
LIKE THE PROBLEM I HAVE WITH
THE THIS. PUBLIC THE PRIVATE
PART OR PUBLIC PARTNERSHIP IS
WHAT I GUESS I WOULD SAY IF PGD
FAILS IS THAT IT'S FIVE
APPOINTMENTS BY THE GOVERNOR
IT'S THERE IN THE LEGISLATURE
THAT WILL MAKE UP. THOSE
APPOINTMENTS IN AND I'LL SURELY
I'VE BEEN SOMEWHAT FRUSTRATED-
AND I DON'T YEAH AS YOU ALL
KNOW I DON'T LIKE TO TALK ABOUT
PARTISAN POLITICS I LIKE
SOLUTIONS I LIKE TO WORK WITH
PEOPLE TO GET THINGS DONE BUT I
WILL SHARE WITH YOU. I BROUGHT
UP LAST WEEK DURING THE BUDGET
THAT WE HAD. ANOTHER MANDATE
FOR SOLAR. AND I AND I BROUGHT
IT UP EVERY TIME WE TALK ABOUT
SOLAR AND WE'RE WE'RE EXPORTING
SOLD OUT OF CALIFORNIA AND IT'S
COSTING THE RATEPAYERS MONEY I
WANT YOU TO HEAR ME I'M SAID
I'M A SAY THAT AGAIN IT COST US
MONEY AND WHAT WE DO WE
INCENTIVIZE SOLAR AGAIN AND
AGAIN AND AGAIN AND AGAIN
BECAUSE IT'S FEEL GOOD
LEGISLATION. THAT COMES FROM
FOLKS ON BOTH SIDES OUT OVER
THAT STUFF BUT IT'S WRONG IS
DRIVING THE RATES UP FOR
CALIFORNIANS AND IT'S JUST
WRONG SO I'M ASKING OUT TODAY
TO VOTE FOR A BILL THAT IS
GOING TO ALLOW THE GOVERNOR TO
MAKE APPOINTMENTS. HEY MORGAN
AROUND THIS WE'RE GONNA RUN
THIS CORPORATION IT TELLS
SUPPOSED WHAT DO WE DO LIKE WE
DO WITH THE RULE LECTORES. GIVE
IT BACK TO THE RACKS
RATEPAYERS. THE PEOPLE THERE
THE PEOPLE WHO ACTUALLY PAY THE
BILL LIKE I DO IN MY ROLE
LETTERING AND I'VE ELECTED
BOARD. FROM THAT ARE IN THERE
HELD ACCOUNTABLE BECAUSE- WHEN
THERE IS A FIRE I HAVE TO PAY
THE BILL. MY RATES WILL GO UP.
BEEN IN IN MY RULE ELECTRIC.
EDITOR'S NOTE THERE IS NO.
PRIVATE PEOPLE THERE IS NO
THERE'S NO GOVERNOR INVOLVED IN
THERE'S DEBTS IT'S OUR SYSTEM.
WE SHOULD BACK BONDS TO PAY OFF
THE DEBTS IF THIS. AND ALLOW
THE PEOPLE TO RUN THEIR OWN.
ELECTRIC UTILITY LIKE WE HAVE
MODELS ALL OVER AMERICA THE
WORD GREAT. THERE ARE HELD
ACCOUNTABLE BY THE PEOPLE. SO I
KNOW THAT IT MAY IT IS TRUE TO
ME IT'S LIKE IT'S JUST SET UP
WRONG AND WE'RE GOING TO
CONTINUE TO GET. ALL SEIZE THE
COME OUT THIS LEGISLATOR
BECAUSE THERE'S LOBBY THAT
DRIVE. THESE DECISIONS LIKE THE
SOLAR MANDATE. N. ANNA AND FOR
THE LIFE OF ME IT'S NOT GOOD
FOR CALIFORNIA IT'S NOT GOOD
FOR THE RAPE WHERE THE RATES
ARE GOING TO CONTINUE TO GO UP
YOU CAN'T AFFORD TO LIVE IN
CALIFORNIA IS IT IS. SO FOR ME
TODAY I'M NOT GONNA BE
SUPPORTING THIS BILL. NOT
BECAUSE YOU DIDN'T WE CAN ALL
WORK HARD BUT IT'S THE DRAWING
STRUCTURE. WAS PUT IN A
STRUCTURE. WHERE WE- CAN GO OUT
AND BOND THE DEBT WHATEVER THAT
DEBT IS THAT THE WHEN THEY FAIL.
AND WE ACTUALLY LET THE PEOPLE
THAT. PAY THE BILL THE ONES
THAT ACTUALLY THE RATE PAYERS.
LIKE THE OTHER WE I MEAN P.
JEANNIE TERRITORY WERE MY FARM
IS AN A RULE ELECTRIC WHERE MY-
FOR MY PROCESSING PLAN IS WHY
MY IN THAT WHAT DID I PICKED UP
PLEASE USE THE RATES ARE A LOT
LESS THERE AND I GET BETTER
SERVICE. SO FOR THAT FOR THOSE
REASONS AND MEMBERS I URGE YOU.
TO LOOK AT THE POLICIES THAT WE
PUT OUT HERE WHEN IT COMES TO
SOLAR. AND WIND AND- THERE'S A
LOT OF DETAIL BEHIND THE SCENES
THAT WE DON'T TALK ABOUT IT'S
BECAUSE THERE'S VERY POWERFUL
LOBBY. IN THIS CAPITAL THIS IS
DRIVING THE RATES UP AND I WANT
TO JUST SAY IN CLOSING THAT I
COMMEND THE GOOD SENATOR I KNOW
THIS IS THAT WE WORKED ON I AND
WE TALKED HAD THIS CONVERSATION
EARLIER. BUT I THINK THERE'S A
BETTER WAY TO DO IT AND I KNOW
THAT WHEN YOU'RE MAKING SAUSAGE
IT'S TOUGH. IN THIS BUILDING SO
FOR THOSE REASONS I WILL NOT BE
SUPPORTING THIS LEGISLATION
TODAY. SENATE ALRIGHT THANK YOU
SO MUCH. WE'RE GONNA ASSET ALL
INDIVIDUALS WHO ARE IN THE
CHAMBERS PLEASE REFRAIN FROM
MAKING ANY NOISE OR CLAPPING
WE'D GREATLY APPRECIATE THAT
THANK YOU SO MUCH. SENATOR HILL
WE'RE GOING TO HAVE YOU RESPOND
AND THEN WE'RE GONNA ESTABLISH
A QUORUM CITY VERY MUCH MISTER
CHAIR I APPRECIATE THAT AND MY
GOOD FRIEND AND SENATOR WHO
LOST HIS COMMUNITIES WERE. THE
SO DESTROYED AND- IT IS MANY OF
YOU HAVE AS I WITNESSED. IT
TOWARD THAT AREA- IT'SNOTHING
THAT YOU WILL NEVER EVER
FORGET- AN EXTRA DARK PERIODS
BUT I GUESS AS I WAS LISTENING
TO. THE WORLD- AERIAL. ELECTRIC
RURAL UTILITIES AND- IT EXACT
WHAT- MY FRIEND WAS SAYING I'M
THINKING. THIS BILL IS GIVING
US EXACTLY THAT. EXACTLY THAT
BECAUSE IT STARTS OUT WITH THE
BOARD OF NINE MEMBERS. TOP FIVE
WOULD BE APPOINTED BY THE
GOVERNOR TO BY THE SENATE TO BY
THE ASSEMBLY THEN AFTER THAT IS
THE NEW BOARD TRANSITIONS. INTO
THE- FORMAL BOARD AS THEY LOOK
TO FIND A SKILL SET AND THEN A
SLATE OF MEMBERS THAT WILL THEN
GO TO THE RATE PAYERS. WHO WILL
SELECT THE NEW BOARD AND THAT
BOARD WILL BE SELECTED OF SIX
MEMBERS TO A MAJORITY OF THE
BOARD WILL BE SELECTED BY THE
RATE PAYERS WHO WILL THEN BE IN
THE MAJORITY ONE MEMBER BY THE
GOVERNOR THEN ONE BY THE
ASSEMBLY ONE BY THE SENATE. AND
THEY WILL DECIDE THE PAUL
POLICIES IN MOVING FORWARD WITH
THE UTILITY WE WOULD MAJOR
STEPS IN THE ASSEMBLY MAJOR-
CONVERSATIONS TO STRUCTURE
GOLDEN STATE ENERGY AS NOT AN
INSTRUMENTALITY OF THE STATE OF
CALIFORNIA. IT WAS DONE
INTENTIONALLY TO MAKE SURE THAT
THIS IS NOT A STATE OPERATED
STATE OWNED OR STATE
CONTROLLED- UTILITY AND THAT'S
WHAT WE DID AND I THINK
SUCCESSFULLY IN THE LANGUAGE
AND IN THE LEGAL
INTERPRETATIONS THAT WE
RECEIVED SO THE RATE PAYERS
WILL OWN IT. THE RATE PAYERS
WILL BOND AGAINST IT THE RATE
PAYERS WILL SET THE RATES AND
THE RATE PAYERS WILL BE IN
CHARGE AND CONTROL SO THIS
SOUNDS TO ME LIKE EXACTLY THE
TYPE OF UTILITY THAT IS IN THE
RURAL AREAS AND STUFF WE SHOW
THANK YOU FOR THAT OPPORTUNITY
MISTER CHAIR. THANK YOU SO MUCH
HELLO WE'RE STILL GOING TO BE
HEARING FROM CENTER STERN
CENTER HERTZBERG BEFORE WE DO
THAT MISS BUT HE SAID IT'S
CULTURAL. SENATE MCGUIRE HERE
SENATE MCGUIRE HERE SENATOR
MARTHA. SENATOR MORE NOT
PRESENT. BRADFORD BRADFORD HERE
CHIANG. DOLLY DOLLY HERE. DOT
THEIR DOT HERE. HERTZBERG
HERTZBERG HERE. HILL HERE HILL
HERE WESSEL. RUBIO SKINNER
SKINNER HERE. STERN YOUR STERN
HERE. WIENER THAT'S A WINNER
PRESENT. JERRY HAVE CORN THANK
YOU SO MUCH QUORUM IS BEEN
ESTABLISHED FOR GOING TO GO
BACK TO COMMENT FROM MEMBERS OF
THE COMMITTEE WERE GONNA TURN
THE FLOOR OVER TO SINNERS STERN
GOOD MORNING SINISTER. GOOD
MORNING MISTER CHAIR. THANK YOU
SENATOR HILL FOR. THIS IS THE
CULMINATION OF A CAREER IT'S
WORTH OF CRITICAL OVERSIGHT AND
LEADERSHIP WHEN IT COMES TO
TRANSFORMING THIS BROKEN
UTILITY. I AM I'M PLEASED TO.
WITH THE WORK PRODUCT THAT THAT
EMERGED HERE AND WE KNOW IT'S
BEEN A ROCKY PATH AND IN FACT
WHEN THE WHEN THE CONCEPT WAS
FIRST INTRODUCED WE DIDN'T EVEN
KNOW. IF THEY WERE GOING TO
ARRIVE AT ANY KIND OF DEAL- IN
THE BANKRUPTCY COURT IF ANY
KIND OF SETTLEMENT WAS GOING TO
BE APPROVED AT ALL AND IF
ANYONE'S GONNA BE COMING TO THE
TABLE- WE KNOW THE THAT THE
PICTURE LOOKS A LITTLE
DIFFERENT NOW BUT- I STILL
THINK THIS BILL IS NECESSARY.
BUT I WANTED TO JUST. MAKE ONE
COMMENT AND ASK YOU A QUESTION
JUST FOR CLARITY THE RECORD
PURPOSES. I YOU KNOW THAT THERE
SEEMS TO BE SOME IMPLICATION
THAT THIS MEASURE. IS GOING TO
CONSTITUTE A DEBT FOR A
LIABILITY HANGING OVER THE HEAD
OF NOT JUST NORTHERN CALIFORNIA
RATEPAYERS OR TAXPAYERS BUT ALL
OF THE STATE I'M A SOUTHERN
CALIFORNIA REPAIRMAN EDISON
CUSTOMER. AND YOU KNOW I READ
THE MEASURE ACTUALLY IS
EXPLICITLY BARRING SUCH A
LIABILITY FROM BEING INCURRED
BY THE PASSAGES LET
LEGISLATION. AND IN FACT IT.
NOT ONLY YOU KNOW OR THAT THE
SOME OF THE TAX PURPOSES THAT
YOU MENTIONED- BUT- IS IT IS IT
NOT THE CASE THAT THEIR
EXPRESSLY BARRED- IN THE
FORMATION OF GSC FROM THAT
CONSTITUTING A DEBTOR LIABILITY
THE STATE OF CALIFORNIA. THAT
IS THE YEAR THE GOAL AND THAT
IS THE INTENT OF THE
LEGISLATION- THE- THE GOAL HAS
BEEN IN THE LANGUAGE I THINK.
ARTICULATES THAT FACT THAT TOO
WE WANT TO MAKE SURE THAT THIS
IS A COMPLETELY SEPARATE
COMPANY IN FACT IN THE
NEGOTIATIONS IN THE ASSEMBLY
THAT'S WHERE THIS CONVERSATION
REALLY OCCURRED- BECAUSE WE
WANTED TO. PICK THE GUARANTEE
NEEDED TO BE IN PLACE THAT THE
STRUCTURE THE GOVERNANCE AND
THE MAIN OPERATION OF THE
COMPANY WAS DONE IN A MANNER
THAT THERE WOULD NEVER BE AN
INTERPRETATION THAT THIS WAS AN
INSTRUMENTALITY OF CALIFORNIA.
AND THEREFORE BE LAW THE RATE
PAYERS OR THE CITIZENS OF
CALIFORNIA WOULD BE RESPONSIBLE
AND LIABLE FOR THIS SO THAT
THAT WAS FROM THE BEGINNING THE
GOAL THE INTENT AND THAT'S THE
STRUCTURE IN THE FINANCING
STRUCTURES ARE PART OF THAT.
WELL I APPRECIATE THAT WORK AND
I THINK I THINK FROM A DRAFTING
PERSPECTIVE IT'S DONE BEEN DONE
PRETTY CLEARLY HERE I MEAN I
SEE BASICALLY. THOSE FOLLOWING
ALONG THE TEXAN PART. FOUR
THREE FOUR FOUR TWO. INDEED IT
IS SHALL NOT BE DEEMED TO
CONSTITUTE DEBTOR LIABILITY THE
STATE OR ANY POLITICAL
SUBDIVISION THERE OF THAT'S IN-SECTION SUBSECTION A AND THEN
SEE SAYS- THE ISSUANCE OF
INDEBTEDNESS SHALL NOT DIRECTLY
INDIRECTLY OR CONTINGENT LEE
OBLIGATE THE STATE. OR ANY
OTHER POLITICAL SUBDIVISION TO
LEVY A PLEDGE ANY FORM OF
TAXATION OR TO MAKE AN
APPROPRIATION FOR THREE
PAYMENT. SO I THINK THE BILL IS
PRETTY PLAIN IN ITS WORDING SO.
FROM A SOUTHERN CALIFORNIA
PERSPECTIVE BUT- I DON'T SEE A
FINANCIAL RISK AND IN FACT. I
SEE IT THIS IS A POSITIVE STEP
FOR TO GET A BIT OF AN EQUITY
STAKE. FROM A POLICY
PERSPECTIVE NOT SO MUCH FROM A
FINANCIAL OBLIGATION BUT FROM A
FROM ACTUALLY HOW WE WANT THESE
CALIFORNIA UTILITIES TO BE
GOVERNED I SEE IT AS A POSITIVE
THING TO HAVE A FEW. THREE
MEMBERS OF THAT BOARD- FROM
THIS BODY AND THE IMPLICATION
THAT SOMEHOW THIS DEAL HAS
BEEN- TAINTED OR OVER RUN BY.
SOME MAGICALLY POWERFUL SOLAR
LOBBY I THINK IS A- A FALSE
PREMISE TO BEGIN WITH- FIRST OF
ALL I WOULD LOVE IF THIS BILL
WERE A LITTLE MORE FOCUSED ON.
THE FUTURE OF RENEWABLE ENERGY
IN THE STATE OF CALIFORNIA AND
REALLY GETTING. THIS GOLDEN
STATE ENERGY. CONCEPTS FOCUSED
ON- SB ONE HUNDRED GOALS
INTEREST BE THREE FIFTY GOALS
ARE BUILDING D. CARBONIZATION
GOALS AND I THINK THAT ACTUALLY
SHOULD BE IN THE FOUNDING
CONSTITUTION OF. WHATEVER THIS
ENTITY IS SHOULD EMERGE BUT
SECONDLY. TO ASSUME THAT- WE'VE
WE'VE HEARD IT JUST REPEATEDLY
OVER THE PAST FEW DAYS ABOUT
THIS. POWER THE SOLAR LOBBY AND
I WOULD JUST. SUBMITTED YOU
STACK UP THE OIL AND GAS
LOBBIES. COLLECTIVE FIRE POWER
IN THIS TOWN AND MANY ACROSS
THIS WHOLE COUNTRY AND I WOULD
SAY. THE SOLAR LOBBYIST DWARFED
IN COMPARISON SO TO THE I JUST
HAVE TO MAKE THAT POINT OF
ORDER BECAUSE IT ACT YOU CAN'T
LET THAT THAT KIND OF POSTURE-
BE UPHELD TOO LONG HERE. YEAH
WE RATE PAYERS ARE GOING TO
BENEFIT BECAUSE OF OUR
RENEWABLE ENERGY POLICIES IN
THE STATE OF CALIFORNIA AND THE
IMPLICATION OTHERWISE IS A
MISNOMER SO. LISTEN I ALSO I
THINK THE BILL COULD GO A
LITTLE FURTHER IN THAT SORT OF
DIRECTIONAL- PURPOSE TO REALLY
ALIGNED WITH OUR CLIMATE IN
RENEWABLE ENERGY GOALS BUT I
APPRECIATE THAT YOU'RE USING
THE INFRASTRUCTURE BANK. AS THE
ENTITY TO REALLY BE THE
BACKBONE OF THE BONDING- AND
THE FINANCING SIDE BECAUSE WE
JUST IN DOUBT THEM ALSO WITH
NEW AUTHORITIES WHEN IT COMES
TO. FINANCING CLIMATE
MITIGATION SO I ACTUALLY THINK
THERE COULD BE SOME REAL
IMPORTANT SYNERGIES. FROM THAT
PERSPECTIVE TO DE RISK THIS
WHOLE SYSTEM FROM A CLIMATE
FUTURE THAT IS HERE SO I WITH
THAT'LL BE SUPPORTING THE BILL
THANK YOU CENTER. THANK YOU SO
MUCH SENATOR STERN MEMBERS
WE'RE GONNA GO TO THE MAJORITY
LEADER SENATOR HERTZBERG THEY
WERE INJURED OVER TO CENTER
BAD. SOME INJURED FOR SURE SIR.
YEAH I JUST TO. TAKE A MOMENT
IN INCOME TO BUILD UPON. THE
POINT SINCE SENATOR STIRRED
RAISED. THE SITUATION WHERE
FRAZIER IT'S NOT SITTING DOWN
AND SAYING WE'RE GOING TO
DEVELOP PUBLIC POLICY FOR HOW
WE DEAL WITH INVESTOR OWNED
UTILITIES. OUR CIRCUMSTANCES
INFORMED BY THE FEDERAL
GOVERNMENT THE FEDERAL
BANKRUPTCY COURT. JUDGE ONE
TALI WHAT HIS DECISION IS WHICH
BASICALLY IS PAY CREDITORS NOT
REALLY WORRIED ABOUT RATE
PAYERS NOT WORRIED ABOUT
ANYTHING ELSE JUST MAKE SURE
CREDITORS ARE PAID THAT'S THE
ROLE OF BANKRUPTCY JUDGES. AND
LAST YEAR WHO SENATOR DODD AT
THE HELM. WE CAME UP WITH A
PRETTY ELEGANT SOLUTION AS IT
RELATES TO FIGURING OUT HOW
WE'RE GOING TO DEAL WITH THIS
BALANCE OF CHALLENGES. BETWEEN
CLIMATE CHANGE THAT IS
FUNDAMENTALLY CHANGE THE
FRAMEWORK IN SO MANY WAYS.
MAKING SURE THE STATE TAXPAYERS
ARE NOT ON THE HOOK. AND SO NOW
THE QUESTION BEFORE US TODAY
THAT SENATOR HILLS BILL I THINK
ADDRESSES IN A REALLY WHAT GOOD
WAY. IS HOW DO YOU CREATE IF A
AN AVOIDANCE OF A THIRD
BANKRUPTCY. HOW DO YOU DO THAT.
WHAT THE GOVERNOR'S OFFICES
SENATOR HILL HAVE DONE HERE IS
TO TRY TO COME UP WITH THE WAY
THAT GIVES US AN OPTION. WHERE
THERE IS AN ALTERNATIVE BUT THE
RISK OF THAT ALTERNATIVE IN A
STATE THAT HAS ARMED. THE
INVERSE CONDEMNATION LAW. IS
THAT THE TAXPAYERS ARE GOING TO
BE A HUNDRED CENTS ON THE
DOLLAR ON THE HOOK FOR EVERY
SINGLE. TRAGEDY THE CURSE
RATHER THAN THE RATE PAYERS OR
THAT THE SHAREHOLDERS OF THESE
COMPANIES. AND SO WHAT SENATOR
HILL DID HERE IN THIS BILL. WAS
TO FIGURE OUT AND IT'S SO
IMPORTANT I KNOW THAT CENTER
STERN ADDRESS IT BUT I WANT TO
ACCENTUATE THE POINT. OF HOW DO
YOU CREATE THAT INTERREGNUM
THAT PERIOD WHERE YOU HAVE SOME
OTHER ENTITY THAT COULD TAKE
THE AUTHORITY AWAY. FROM THE
EXISTING INVESTOR OWNED
UTILITY. WITHOUT IMPOSING
LIABILITY ON THE ON THE STATE
OF CALIFORNIA TAXPAYERS THAT'S
THE PURPOSE OF THIS BILL.
THAT'S WHAT THEY'RE TRYING TO
DO IN VIEW OF. THE ROLE OF THE
BANKRUPTCY COURT. THE ROLE OF
SENATOR DODD'S BILL. AND THEN
FIGURING OUT YOU HOW YOU HAVE
AN APPROPRIATE LEVERAGE IT IS
NOT. BY SITTING DOWN AND READ
DRAFTING HOW WE'RE GONNA DO. A
UTILITIES IN THE STATE OF
CALIFORNIA I'M TOTALLY AGAINST
UNTIL E FIX INVERSE
CONDEMNATION ANY PUBLIC
OWNERSHIP. OVER WHAT WE HAVE A
UTILITIES BECAUSE IT'S JUST
GOING TO RESULT IN HUGE
LIABILITY TO TAXPAYERS. ON TOP
OF ALL THE ECONOMIC
CIRCUMSTANCES WE HAVE ALL THE
SERVICES WE'VE GOT TO PROVIDE.
HOUSING AND ALL THE OTHER KINDS
OF THINGS WE GOTTA DO AND NOW
WE'RE GOING TO SUFFER THIS RISK
IT MAKES NO SENSE SO I. I JUST
WANTED TO PUT THAT STATEMENT ON
THE RECORD. I THINK THAT- THE
ARCHITECTURE WHAT WE HAVE
BEFORE US IS INTEGRATED WITH A
NUMBER OF OTHER MEASURES AGAIN.
FRAMEWORK IS SENATOR DODD. AND
I THINK SENATOR HILL IS DONE A
GREAT JOB. IN THIS REGARD NONE
OF THE BILL'S BEEN MOVED BUT IF
IT HASN'T I WOULD
ENTHUSIASTICALLY MOVE THE
MEASURE. THANK YOU SO MUCH THAT
WILL BE OUR FORMA MOTION WE
HAVE A FORMAL MOTION ON THE
FLOOR WE SAW OF COMMON BY
MEMBERS. THAT MOTION IS GOING
TO BE THE SIMPLY AMENDMENTS
WILL BE CONCURRED IN. THE
BEFORE WE GET TO THAT WE'RE
GOING TO NOW TURN IT OVER TO
SENATOR BRADFORD GOOD MORNING
SIR. THANK YOU MISTER CHAIR AND
I WANT TO THANK MY COLLEAGUES
FOR. THE POLICE TO INTERESTING
DEBATE WHEN IT COMES TO ENERGY
HERE IN THE STATE OF CALIFORNIA.
I STAND HERE PROBLEM IN A VERY
UNIQUE POSITION- AND PRIVATE
THE ONLY MEMBER OF THIS
COMMITTEE. THAT HAS WORKED IN
THE TELEPHONY INDUSTRY AS WELL
AS INVESTOR OWNED. UTILITY AND
OVER THAT PERIOD OF TIME WE'VE
HEARD A VARIETY OF IDEAS AND
SUGGESTIONS ON HOW WE IMPROVE
TELEPHONY. IN THIS STATE AND
THIS COUNTRY HIGH WE IMPROVE
THE DELIVERY OF ELECTRICITY.
AND MANY TIMES THOSE
INDIVIDUALS ARE CLUELESS AS TO
WHAT IS ACTUALLY INVOLVED IN
THE DELIVERY. OF THOSE
RESOURCES IN THOSE PRODUCTS. A
WISE MAN ONCE STATED. IF
ALEXANDER GRAHAM BELL CAME BACK
TODAY. HE WOULD NOT ONLY
RECOGNIZE COULD NOT RECOGNIZE
THE TELEPHONE HE WOULD NOT A
USER HI. BUT IF THOMAS EDISON
CAME BACK TODAY HE WOULD
CLEARLY IDENTIFY THE ELECTRICAL
INFRASTRUCTURE THAT WE HAVE
HERE TODAY WHETHER IT'S- HYDRO
WHETHER IT'S GAS WHETHER IT'S
RENEWABLE. BECAUSE IT HAS IT
EVOLVED THAT MUCH OVER THE LAST
HUNDRED YEARS THAT YOU CAN MAKE
RADICAL CHANGES BUT THOSE
RADICAL CHANGES THAT WE'VE SEEN
IN INTERNET TELEPHONY INDUSTRY
WAS NOT DRIVEN BY LEGISLATURE.
OUR LEGISLATION IT WAS DRIVEN
BY CONSUMERS. AND FAR TOO OFTEN
WE FIND OURSELVES TRYING TO
LEGISLATE A INDUSTRY THAT MANY
OF US HAVE VERY LITTLE IDEAL. A
HOLLYWOOD OPERATE. I WILL STAND
HERE NOT DEFEND. THE UTILITIES
BUT TO STATE THAT THE BEDROCK
OF WHO THEY ARE. THERE
FOUNDATION. IS CUSTOMER AND
EMPLOYEE SAFETY AND RELIABILITY
THOSE ARE THE THREE PRONGS OF
EVERY INVESTOR OWNED A
MUNICIPALLY OWNED. UTILITY THAT
I'VE EVER INTERFACE WITH.
CUSTOMER RELIABILITY WORK
RELIABILITY I MEAN SAFETY AND
RELIABLE SERVICES. BUT MANY
TIMES WE PER POLLS CHANGES TO
INDUSTRY. AND WE DON'T FACTOR
IN THE COST. GIRLS ARE WHAT WE
SAY THERE WILL BE BILLIONS OF
DOLLARS OF IMPACT IF THIS IS
TURNED OVER TO A NONPROFIT AND
AT THE END OF THE DAY. WHO PAYS
FOR. MANY OF THESE INDIVIDUALS
UP BOTTLES BUT HERE TO SAY
THAT'S NOT THIS AUTHOR HERE.
BECAUSE I HAD A OPPORTUNITY TO
WORK WITH HIM DURING THE SAN
BRUNO CRISIS. WHEN I CHEERED
UTILITIES IN THE ASSEMBLY. AND
WE WERE ADAMANT ABOUT MAKING
SURE THEIR RATE PAYERS DID NOT
PAY FOR THOSE COSTS HE'S BEEN A
STRONG ADVOCATE ON IMPROVING.
SERVICE AND RELIABILITY BUT I
HAVE TO STRONGLY DISAGREE WITH
SOME MY COLLEAGUES THE BILL PGA
PGA ANY IS BEYOND REPAIR BOB TO
STRONGLY BELIEVE A DISAGREE
OBEY FEEL THAT THEIR SOLELY
RESPONSIBLE FOR WE ARE TODAY. A
LOT OF THIS HAS TO DO WITH THE
LEGISLATURE A LOT OF IT HAS TO
DO WITH YOU SEE AND THEIR
FAILURE TO OVER OVERSEE ARE YOU
STILL LAB DURING THE DURING A
RAID CASES EVERY THREE YEARS
AND I WOULD SEE ALL THE STUFF
THAT UTILITIES POLITY INTO
THEIR RATE CASING AND WHAT THEY
WERE GOING TO DO. THEY WOULD
ASK FOR THE MOON AND SETTLE FOR
THE STARS BECAUSE THEY DO YOU
SEE WAS GONNA GRANT THEM PRETTY
MUCH ALL WHAT THEY WANT WITH NO
OVERSIGHT OVERSIGHT AND NO
CHECKS. AND ACCOUNTABILITY. SO
WE ALL OWN A LITTLE OF THE
RESPONSIBILITY YEAR. BUT TO
SIMPLY SHIPPED. SHIP THE P. DNA
FROM INVESTOR OWNED UTILITY TO
A NONPROFIT. I'M FOR THAT. I'M
FEARFUL BECAUSE AN I. Q. OF
WORK FOR NONPROFIT. WORK OF ONE
OF THE BEST MOST RELIABLE
NONPROFIT IN THE STATE OF NOT
THIS COUNTRY BUT TO SAY I'M
READY TO TURN OVER UTILITY
COMPANY TOOK NONPROFIT I'M NOT
SURE I THINK THE IMPORTANCE OF
INVESTOR OWNED UTILITIES ALLOWS
OUR SHAREHOLDERS THE OWN SOME
RESPONSIBILITY. BUT I WANT TO
BE VERY CLEAR WE CANNOT IGNORE
THE EIGHTY FIVE LIVES THAT WERE
LOST DURING THE WILDFIRE.
PLEASE ANY HOUSE SOME
ACCOUNTABILITY FOR THAT. AND IF
THEY CAN'T SOLVE THAT PROBLEM
YES WE NEED TO HELP THEM SOLVE
THIS THERE IS NO WAY THE
TAKEOVER PGA ANY WITHOUT
CREATING AGAIN SIGNIFICANT
REPAIR COST. BUT THE COST OF
INACTION IS FAR MORE COSTLY. SO
I'M HERE TODAY TO SAY I WILL
SUPPORT THIS LEGISLATION BUT I
WILL SUPPORT IT WITH GREAT
CAUTION AND OPTIMISM AND MAKING
SURE THAT IT LIVES UP TO.
MAKING SURE THAT IS THE CORE
WHAT. WE NEED FROM THE UTILITY
AGAIN MANY TIMES WE'VE
SUGGESTED THE REGULATION WE SAW
WHAT THAT GOT US LEGISLATION.
WE SAW THE DEREGULATION OF THE
PHONE COMPANY SOME FORTY YEARS
AGO ONLY TO RE CONSOLIDATE
BECAUSE THEY REALIZED A BUNCH
OF BABY BILLS DID NOT WORK.
EROSION OF RELIABILITY AND
SAFETY AND THE UTILITY INDUSTRY
HAS A LOT TO DO WITH
DEREGULATION THAT WE PASSED IN
THE LATE EIGHTIES HERE IN THE
STATE OF CALIFORNIA. AND WE'VE
A ROAD IT CUSTOMER TRUST. IT
HAS A LOT TO DO WITH THE
SUGGESTION OF MUNICIPAL STATION
I WAS WORKING WITH FOR A VESTER
ON UTILITY WHEN MANY CITY SAYS
WE'LL DO IT OURSELVES WITH
LITTLE OR NO EXPERTISE AND
RUNNING A ELECTRIC COMPANY IT
WILL SOON SEE I'M NOT HERE TO
PREDICT DOOM AND GLOOM BUT
WE'RE GONNA SOON SEE CCA'S ARE
ILL EQUIPPED. TO RUN A UTILITY
COMPANY THE REALLY IT JUST A
THIRD PARTY PURCHASER POWER.
WITH NO INFRASTRUCTURE NO
FINANCIAL BACK. OF STRUCTURED.
TO WARD OFF OF. GOING TO
BANKRUPT IF THEY GO INTO
BANKRUPTCY OR ANY OF THOSE
THINGS SO THE RESPONSIBILITY IS
STILL FALLS ON THE UTILITY IT
FALLS ON INVESTOR OWNED UTILITY
THEY'VE DONE A GREAT WORK
DESPITE MANY OF THE CHALLENGES
AGAIN WE CAN'T CONTROL MOTHER
NATURE. BUT WE CAN'T DO A
BETTER JOB OF REGULATING THEM
AND MAKING SURE THAT THEY
ADHERE TO ALL THE PROMISES THAT
THEY PUT IN THEIR GENERATE CASE
EVERY THREE YEARS WE CAN HOLD
THE P. YOU SEE. MORE
ACCOUNTABLE. BUT REGARDLESS OF.
WHAT WE DO HERE. WE GOT TO MAKE
SURE THAT WE DON'T COME BACK TO
THIS POSITION AGAIN. SO I
RESPECTFULLY ASK FOR AYE VOTE.
THANK YOU SO MUCH CENTER
BRADFORD. LADIES AND GENTLEMEN
COMMITTEE WE LIKE TO GO TO SEE
IF THERE'S ANY FINAL QUESTIONS
COMMENTS OR CONCERNS IT LIKE TO
BE ADVANCE. ANY FINAL QUESTIONS
COMMENTS OR CONCERNS. XENON
LASING GENTLEMAN OF COMMITTEE
WE DO HAVE A MOTION ON THE
FLOOR BY MAJORITY LEADER
HERTZBERG THE MOTION IS. THE IS
THE COMMITTEE WILL- THAT HE
SIMPLY MEANS WILL BE CONCURRED
AND I APOLOGIZE CENTER HERE
WOULD YOU LIKE TO CLINICS I
WOULD MISTER CHAIR THANK YOU
AND THANK YOU TO. ALL OF THE
MEMBERS TODAY FOR THE COMMENTS
FOR THE QUESTIONS. AND FOR THE
STRONG INTEREST IN. PROVIDING
COULD UTILITY SERVICE FOR
CALIFORNIA RESIDENTS AND THAT'S
REALLY WHAT IT'S ALL ABOUT- AND
OF MY GOOD FRIEND FROM SOUTHERN
CALIFORNIA MY SEAT MATE- HE- WE
DO GO BACK AWAY. AND I CAN'T
TELL YOU HOW MUCH I
APPRECIATED. THAT TIME AFTER
THE SAN BRUNO EXPLOSION THE
LOSS OF A LIVE THE THIRTY EIGHT
HOMES THAT WERE DESTROYED WHICH-
WAS IN COMPARISON TO WHAT WE
SAW IN THE LAST COUPLE OF YEARS
IN. THE EAST IN NORTHERN
CALIFORNIA. AT THE TIME- MY
GOOD FRIEND WAS THERE FOR THE
COMMUNITY WAS THERE FOR ME. WE
HELD A COMMITTEE HEARING THERE
AND HE'S BEEN FIGHT IN STRONG
AND I AGREE WITH EXACTLY WHAT
HE SAID. IT'S NOT JUST THE
UTILITY THAT TO FALL. WE HAD
THE AND THAT PUTS THE
RESPONSIBILITY ON THIS BODY AS
WELL. BECAUSE THOSE P. UC
COMMISSIONERS WHO FAILED US
OVER THE YEARS. WERE CONFIRMED
BY THIS BY WITHOUT THE PROPER
OVERSIGHT TO I WANT TO THANK
EVERYONE FOR THE SUGGESTIONS IN
THE COMMENTS AND I DO HOPE THAT
WE NEVER HAVE TO USE THIS
LEGISLATION THAT WE NEVER SEE
GOLDEN STATE ENERGY BECAUSE IF
WE DO THAT MEANS A P. JEANNIE
FAILED TO GET. SO I HOPE WISH
AND PRAY THE P. JEANNIE
PROVIDES THAT RESILIENT.
UTILITY THAT SAFE UTILITY
UTILITY WITH A REASONABLE RATES
FOR ITS CUSTOMERS. IN THAT WE
NEVER HAVE TO UTILIZE THIS PLAN
BE. I RESPECTFULLY ASK YOUR
I'VE- CALLING THANK YOU SO MUCH
CENTER HILL WE CAN'T HOPE WE
CAN'T HAVE HOPE AS OUR STRATEGY
WE HAVE TO MAKE SURE THAT WE
PLAN FOR THE WORST AND THIS IS
WHAT THIS BILL DOES AND IT
GIVES RESIDENTS. UNDER THE
CALIFORNIA AN INSURANCE POLICY
IF WE DO SEE A THE WORSE HAPPEN
BUT IS IN GERMAN WE'RE GOING TO
BE TAKING A ROLE THE MOTION ON
THE FLOOR IS A DECENTLY NAMES
WE CAN CARD IN. THIS PARTY SO
CAN YOU PLEASE CALL THE ROLL.
MOTION THAT THE ASSEMBLY
MOMENTS BEACON PARDON. MCGUIRE
HI WHERE I. WARLOCK MORE LIKE
NOW BRADFORD OUGHT BRADFORD I
CHEN NO JANGAN NO DOLLY. DOLLY
GNOME. DOT HI DODD I HERTZBERG
HERTZBERG I. HILL HELLO I
WESSEL. RUBIO. SKINNER BY
SKINNER I STERN HI STERN I
WIENER. WIENER I. EIGHT YES ETS
AND THREE KNOWS. KERN VOTE IS
EIGHT EYES THREE KNOWS WE'RE
GOING TO KEEP THIS ROLE OPEN-
WE'RE GOING TO CHECK IN WITH
SOME OF OUR ABSENT MEMBERS
WE'RE GONNA TAKE A QUICK PIES
PRINTER QUICK PIES KEEP THE
ROLE OPEN WE'LL BE RIGHT BACK
WITH YOU HERE. IN JUST A FEW
MOMENTS.
RIGHT NOW ALL RIGHT
LAYS IN GERMAN WE'RE GONNA BE
RECONVENING HERE THE CURRENT
VOTE IS EIGHTY THREE EIGHTY
THREE THE MOTION. IS THAT THE
ASSEMBLY AMENDMENTS BE HEARD
AND- RESPECTED SIR CAN YOU
PLEASE CALL THE ABSENT MEMBERS
WESSEL. SENATOR RUBIO SENATOR
RUBIO I. NINE DAYS THREE IN
THOSE RIDE LATE IN GENTLEMAN AT
THE FINAL VOTE IS NINE EYES
THREE KNOWS. THE MEASURE PASSES
WERE NOW CLOSING THE ROLE. WE
APPRECIATE EVERYONE NOW TUNING
INTO DAY TO THE SENATE ENERGY
COMMITTEE YOU CAN GO TO OUR
WEBSITE TO BE ABLE TO
PARTICIPATE AS WELL THERE'S AN
EMAIL ADDRESS LISTED ON THE
WEBSITE FOR THE ENERGY UTILITY
AND COMMUNICATION. COMMITTEE
THIS COMMITTEE IS NOW ADJOURNED.