Gavin Newsom
๐ค SpeakerAppearances Over Time
Podcast Appearances
That's how I started.
We had to dig out of that.
And when you dig out of that, yes, that's been the biggest driver, interestingly, of utility costs when you look at the bill, where the costs related to decades and decades and decades of neglect to address the underlying issues around the hot's getting higher, the dry is getting drier, climate, but also forest and vegetation management and undergrounding and all those things that we've 10x, we haven't played in the margin, $5.3 billion in forest management.
When I got here, it was about 200 million a year.
unprecedented investments in this space, unprecedented responsibility and accountability at PG&E.
We tie executive compensation to performance on safety.
We also just passed on our cap and invest program, which we extended to 2045 because we're not walking away from low carbon grain growth, a $60 billion, let me be fair, $56 billion rebate to address costs for utilities.
After 11 years, this is the 11th,
As Lieutenant Governor and Governor, we finally got a deal with other Western states to regionalize our grid.
This is one of the big news stories that's gotten some trade attention.
But we'll have the impact of allowing us to export more of our green and clean energy, provide more reliability at a lower cost.
We estimate a billion dollars a year of savings through that for electricity.
And we also just advanced our nation-leading energy efficiency programs under Title 24,
$4.8 billion projected savings.
So we're not sitting on that issue as well.
Well, PG&E is a very different company than it was prior to bankruptcy.
I'm more satisfied under 1054, that was the framework and the rubric to which we created a statutory requirement, as exampled in my comments a moment ago around executive compensation being tied to safety.
We also have the clawback in that, which I will remind people, of a receivership, where the state can actually assert control statutorily
in that law that I passed and we organized to take back control if they're not performing.
Accountability is a persistent issue and continues to need to be improved.