 
 |
Official Title and Summary Summary of the Initiative Governor Schwarzenegger sided with private power producers like the Calpine corporation – some of his biggest political contributors – and vetoed popular legislation that promised California would never again go through an electricity deregulation crisis like in 2001. Unbelievably, Governor Schwarzenegger’s energy ‘plan’ calls for another deregulatory experiment. This initiative simply says 'Never again!’ It makes sure that all electricity providers are subject to the regulation of the Public Utilities Commission, and that those providers have adequate resources. As a result, these providers will never be able to manipulate the electricity market again. The initiative is based upon Assembly Bill 2006, vetoed last year by Governor Schwarzenegger. That bill would have provided a stable energy path for the future, and the initiative similar direction. Our “Never Again” initiative will prevent another electricity deregulation crisis in California, blackouts, and the massive fraud perpetrated on consumers by unregulated private producers like Enron. It will dump failed deregulation policies, put utilities back in the business of serving all our citizens, and develop more green power renewable energy. It will help California plan for the future. Electricity deregulation brought California rolling black-outs, markets manipulated by corporate profiteers, and cost Californians tens of billions of dollars. The Repeal of Electricity Deregulation and Blackout Prevention Act offers a commonsense energy future to California citizens, one without the high and unnecessary risks of deregulation. Specifics of the Initiative This initiative will establish an energy policy for California that guarantees that the lights stay on, protects ratepayers from the market manipulation of private energy companies, “greens” our energy portfolio by increasing environmentally clean and sustainable renewable energy sources, assures that utility industry personnel are well trained, and repeals the failed electricity deregulation scheme that exposed Californian’s to blackouts and cost ratepayers billions of dollars. Deregulation: The failed private energy markets and direct access agreements with private energy companies will be repealed. Those users that have existing direct access contracts with energy companies will be allowed to keep them, but no new contracts will be allowed after 2006. Adequate Supply, Just and Reasonable Rates: Utility companies will again be required to do long-term planning and acquire electricity to assure that there is an adequate supply to meet demand at just and reasonable rates. The PUC will be required to develop a new process of resource selection and purchase that achieves the best value for ratepayers. Conservation and Renewable Energy: Utilities will both generate power and buy power from non-utility generators, promote conservation and build their portfolios of renewable energy sources. Utilities will accelerate the development of new environmentally beneficial renewable energy sources to include 20% of the power they provide by the year 2010. |
