By Lynsey Paulo
SAN FRANCISCO — PG&E today (July 25) joined Gov. Jerry Brown as he signed into law Assembly Bill 398. The landmark legislation strengthens and extends California’s historic market-based, emissions reduction cap-and-trade program through 2030.
PG&E was honored to stand with the governor, legislative leaders, former Gov. Arnold Schwarzenegger, and San Francisco Mayor Ed Lee at the bill-signing ceremony on Treasure Island.
“We agree with the Governor — climate change is real — and we are grateful for his continued leadership,” said Geisha Williams, CEO and president of PG&E Corporation. “This legislation represents the right balance of taking a sustainable cost-effective approach to achieving greenhouse gas emissions reductions while ensuring strong consumer protections. It continues the world-class cap-and-trade program that helps drive California’s climate leadership at a time when the world is watching.”
PG&E supported AB 398 which continues cap-and-trade cost protections for energy consumers. The current program grants electric providers emissions allowances that are sold into the market, generating proceeds that are returned back to customers.
PG&E also supported Assembly Bill 617 which addresses local air quality concerns in affected communities. Both global greenhouse gas emissions and local air pollutants are important public health and policy issues that must be addressed. PG&E believes both bills target these problems with focused policy solutions.
PG&E currently delivers some of the nation’s cleanest energy. Nearly 70 percent of the electricity the company supplies customers comes from sources that are greenhouse gas-free. PG&E’s electric power mix includes nearly 33 percent from eligible-renewable resources including solar and wind power, the nation’s largest investor-owned utility hydroelectric system, and nuclear energy.
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