California legislature passes landmark energy and affordability package, saving ratepayers billions
Sacramento, CA – This weekend, the California legislature today passed SB 254, a landmark energy and affordability bill. Critically, the bill establishes the California Transmission Infrastructure Accelerator to coordinate transmissions planning, facilitate public financing, and reduce project costs—with the potential to save Californians up to $3 billion annually.
“The passage of SB 254 is a huge win for California ratepayers and clean energy deployment,” said Nicole Pavia, Director of Clean Energy Infrastructure Deployment at Clean Air Task Force (CATF). “Transmission infrastructure is the backbone of the energy transition. This bill lays the groundwork for building critical power lines faster and cheaper, putting billions back into the pockets of Californians.”
Analysis from CATF and Net-Zero California found that public-private partnerships for transmission could save Californians $3 billion per year, or approximately $123 billion over 40 years. SB 254 turns this research into action by requiring the Transmission Infrastructure Accelerator to develop a public-private partnership plan to maximize public financing and ratepayer benefits. It will enhance coordination for state transmission planning and development efforts, and create a revolving fund to provide public financing for eligible projects.
“By establishing the Transmission Infrastructure Accelerator and a dedicated revolving fund, California is pioneering a financing approach that can cut costs for ratepayers while speeding up the build-out of critical infrastructure,” said Ashley Arax, Senior California Policy Manager at CATF. “This approach can serve as a model for states across the country looking to put more lines in the ground while protecting households from rising energy costs.”
CATF looks forward to working with state leaders and stakeholders to ensure the Accelerator delivers on its promise to cut costs, streamline transmission buildout, and connect Californians to reliable, affordable clean energy.
Press Contact
Natalie Volk, Communications Manager, [email protected], +1 703-785-9580
About Clean Air Task Force
Clean Air Task Force (CATF) is a global nonprofit organization working to safeguard against the worst impacts of climate change by catalyzing the rapid development and deployment of low-carbon energy and other climate-protecting technologies. With more than 25 years of internationally recognized expertise on climate policy and a fierce commitment to exploring all potential solutions, CATF is a pragmatic, non-ideological advocacy group with the bold ideas needed to address climate change. CATF has offices in Boston, Washington D.C., and Brussels, with staff working virtually around the world. Visit catf.us and follow @cleanaircatf.
