SAN FRANCISCO--(BUSINESS WIRE)--
Pacific Gas and Electric Company (PG&E) today joined Governor Edmund G. Brown Jr. 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 Governor 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. 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,” said Geisha Williams, CEO and President of PG&E Corporation.
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.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit www.pge.com/ and pge.com/news.
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