Silicon Valley cities fear PG&E power play
Officials in Silicon Valley cities with public power utilities are nervously eyeing a state proposition they say could stunt their ability to grow and generate sufficient revenue.
Proposition 16 on the June 8 ballot would amend the state Constitution to require local governments to obtain two-thirds voter approval to provide electricity to new customers or expand service. Pacific Gas & Electric Co. has pledged major financial backing for the measure.
“We anticipate contributing from $25 million to $35 million in shareholder funds to the Proposition 16 campaign,” said Andrew Souvall, a PG&E spokesman.
Souvall said privately owned PG&E, the dominant utility in northern and central California with 15 million customers, views Proposition 16 as a way to give taxpayers greater control over how their money is spent, especially now that “state and local governments are facing dire budget conditions.”
Read the full story in the Silicon Valley/San Jose Business Journal.
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