SoCalGas claims to be on a mission to build the “cleanest, safest and most innovative energy company in America” … not exactly. The same company that brought us the Aliso Canyon disaster is now trying to legislate a high cost scheme that will enrich their shareholders and leave ratepayers holding the bag.
SB 733 is a last-minute “gut and amend” that seeks to tip the scales in SoCalGas’ favor… allowing big gas to invest billions of ratepayer dollars in hydrogen pipelines and infrastructure. While hydrogen is clearly part of California’s clean energy future, regulatory agencies have just begun to explore its role and safety in our natural gas system. SB 733 is an end run around the important due diligence currently being conducted by the California Public Utilities Commission and California Energy Commission.
SB 733 will also exacerbate out of control inflation, ensure billions of dollars in shareholder profits, and correspondingly ever higher energy rates for consumers. Natural gas rates have nearly doubled since last year and SB 733 ensures they will go far higher, further harming the economy and hurting small businesses, farms, and residential customers who can least afford it.