PG&E spends millions opposing Steyer in California race | JQJO

SACRAMENTO: Pacific Gas & Electric has spent at least $13.5 million this year to oppose gubernatorial candidate Tom Steyer, according to state campaign filings, and other major utilities have contributed to committees backing the anti-Steyer effort. Steyer, a billionaire and former hedge fund founder turned environmental advocate, has repeatedly accused PG&E, San Diego Gas & Electric and Southern California Edison of raking in record profits, driving up customer bills and causing deadly wildfires with faulty equipment. He has welcomed the attacks as proof he is taking on powerful special interests and has framed the spending as evidence of entrenched influence in Sacramento.

LOS ANGELES: The dispute underscores heavy corporate political spending and organized opposition: the California Chamber of Commerce political action committee collected at least $2 million each from PG&E, Sempra and Edison and has funneled $9.75 million to the anti-Steyer committee, which has pointed to Steyer’s reported spending of more than $200 million on his bid for governor. Steyer is competing to advance past the June primary and has trailed some rivals in recent polls. He says he would not dismantle the utilities but would appoint reform-minded regulators, seek lower rates, expand battery storage and rooftop and community solar. Audits of wildfire-related utility spending from 2019 to 2020 found about $2.5 billion that could not be accounted for, and utilities opposed a bill to require independent audits of such spending.