"Affordability is something I have always prioritized as a policymaker, and the simple fact is investor-owned utility rates are not affordable for Californians and the residents in my district," Wahab said in a statement to Courthouse News. "PG&E had six rate increases in 2024, and their annual gross profit for 2023 was $20.23 billion. Those profits are at the expense of ratepayers who are struggling with stagnant wages and high inflation."

The bill has several prongs. It seeks to cap rate increases by investor-owned utilities for residential customers to the consumer price index. It also would stop utility shut-offs for vulnerable ratepayers, including those at or below 200% of the federal poverty line and pregnant and postpartum customers.

Additionally, the bill would increase an investor-owned utilities’ contribution to the Wildfire Fund and lower the amount for ratepayers. Annual equipment audits would occur, with older equipment being replaced. Also, proposals for executive compensation would be tied to safety metrics.

A team would examine existing utilities’ operations and impacts, and the benefits and issues of changing to a different kind of utility. If the study determines a change is in people’s best interests, it would write a plan for shepherding that transition.

More at the link and the bill's text.

In fact, there are more than 40 publicly owned power providers throughout California, a mix of municipal and community-managed operators, according to the latest data available from the California Energy Commission.

They range from the city of Needles on the state’s easternmost edge, with 3,000 accounts, to the massive Los Angeles Department of Water and Power, the largest municipal utility in the United States, which has upward 1.5 million accounts and over 4 million customers.

The map below shows all the publicly owned utilities listed by the CEC, based on 2017 data. Note that it does not include any community choice aggregation programs (CCAs).

ISSUE BRIEF
Publicly Owned Electric Utilities: (POU's) Frequently Asked Questions (FAQ)
February 2019
Many communities and policymakers are asking questions about publicly owned electric utilities. Here are common questions and answers.

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How are POUs governed? Who regulates POU electric rates?
While other electric utilities are subject to oversight by the California Public Utilities Commission (CPUC), POUs are accountable to locally elected officials, who also set electric rates and provide policy direction. POU electric rates are governed by the California Constitution and California law, and must reflect cost-of-service. As a result, and the fact that POUs are not-for-profit, POU rates are about 18 percent lower on average than other electric utility rates. In addition to local oversight, POUs coordinate on a variety of key energy planning issues with the California Public Utilities Commission (CPUC), the California Independent System Operator (CAISO) and the California Energy Commission (CEC).