On March 9th, RCRC urged the Legislature to devote nearly $4 billion from this year’s budget on energy infrastructure investments to reduce ratepayer costs, improve local energy reliability, and reduce wildfire risk.
The Administration has proposed a $2 billion (over two year) energy infrastructure package to drive innovative energy solutions and decarbonize existing buildings. RCRC observed that, while helpful, these investments miss the mark in several ways.
RCRC urged the Legislature to invest some of the budget surplus in energy infrastructure improvements that will yield benefits for decades to come. RCRC also urged the Legislature to use General Fund revenues to offset utility bill increases otherwise borne by ratepayers. Specifically, RCRC urged the Legislature to:
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Add $3.5 billion (General Fund) to offset rate increases related to utility wildfire mitigation plan projects.
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Add $250 million (General Fund) to support smaller long duration pumped storage, geothermal, and biomass projects that provide critical local resiliency benefits.
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Add $200 million (General Fund) to deploy remote grids in rural areas to ensure local energy reliability and reduce wildfire risk.
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Add funding to provide a state match for federal Infrastructure Investment and Jobs Act energy pots.
The budget request can be found here. For more information, please contact RCRC Policy Advocate, John Kennedy.