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Article Excerpt
The first major effort to re-regulate California's volatile energy market is expected to crash and burn, with Gov. Arnold Schwarzenegger poised to veto AB 2006 before month's end.
Supporters of the bill, Sponsored by Assembly Speaker Rep. Fabian Nunez, D-Los Angeles, say it would ensure reliable electricity at stable and affordable rates for smaller customers and stimulate investment in energy generation. This would be done by directing the California Public Utilities Commission to establish a regulatory framework for investors to recover costs associated with new power generation; require long-range planning and "resource adequacy"--shoring up sufficient energy for a rainy day.
"The governor doesn't believe that added legislation is necessary for a comprehensive energy policy," said Joe Desmond, deputy secretary of energy in the governor's office, of the expected veto.
AB 57, approved in 2002 and now being implemented by the PUC, already provides for short-, medium- and long-term procurement contracts through an evaluation process that would ensure cost recovery, he said.
But, Katherine Hackney, director of state legislative policy for Southern California Edison, disagrees that AB 57 is a long-term solution for the state's energy woes.
"AB 57 is a critical piece of California's energy future, but it doesn't deal with resource adequacy and utility investment; there are big gaps," she said. "It was an urgency measure to get utilities back...
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