March 1, 2021
Business News

Californians Pay Two-to-Three Times More for Electricity Than It Costs to Provide, Impeding State’s Climate Targets, Finds New Report Released by Next 10

SAN FRANCISCO–()–California’s current strategy of recovering a myriad of fixed costs in electricity usage rates must change as the state uses more renewable electricity to power buildings and vehicles on the path to carbon neutrality. That’s the finding of a report, released today, from the Energy Institute at the UC Berkeley Haas School of Business and non-profit think tank Next 10.

“There’s no question that we need to power buildings and transportation with California’s abundant clean electricity. The climate and health benefits will be enormous,” said F. Noel Perry, founder of Next 10, who commissioned the report. “The question is, how can we change the inequitable and unsustainable way we…

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