California legislators prepare to vote on a crackdown on utility spending
A crackdown on how California utilities spend customers' money faces a do-or-die vote in the Legislature
SACRAMENTO, Calif. (AP) — A crackdown on how some of the nation's largest utilities spend customers' money faces a do-or-die vote Monday in the California Legislature.
Californians already pay some of the highest electricity rates in the country, in part because of the expensive work required to maintain and upgrade electrical equipment to reduce the risk of wildfires in a state with long, dry summers.
As rates continue to climb, utilities like Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric have faced increasing scrutiny from consumer groups over how they spend the money they collect.
Utilities aren’t allowed to use money from customers to pay for things like advertising or lobbying. Instead, utilities must pay for those activities with money from private investors who have bought stock shares.
