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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Source: Pacific Gas and Electric Company