Vetoed by Governor Arnold Schwarzenegger

Full Bill Text
Veto Letter

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that sets a target to generate 33 percent of total retail sales of electricity in California from renewable energy resources by December 31, 2020 and requires specific minimum percentages of renewable energy resources to be procured by retail sellers of electricity.

Highlights:

-Requires each retail seller of electricity to procure the following minimum percentages of renewable energy resources in the following years and to not fall below those percentages in subsequent years (Sec. 8):

-until December 31, 2012, the same percentage as achieved by the seller during 2009; -20 percent by December 31, 2012; -25 percent by December 31, 2016; and -33 percent by December 31, 2020.

-Establishes a limitation for electrical corporations on the expenditures above market costs for procurement of renewable energy resources that are used to comply with the aforementioned minimum percentage requirements that shall equal 6 percent of the total bundled electric revenues for the corporation in 2008 multiplied by the number of years remaining until 2020 (Sec. 8). -Allows electrical corporations to procure renewable energy resources at above-market prices while exceeding the aforementioned limitation, but requires Public Utilities Commission approval for the expense to be recovered in rates (Sec. 8).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that sets a target to generate 33 percent of total retail sales of electricity in California from renewable energy resources by December 31, 2020 and requires specific minimum percentages of renewable energy resources to be procured by retail sellers of electricity.

Highlights:

-Requires each retail seller of electricity to procure the following minimum percentages of renewable energy resources in the following years and to not fall below those percentages in subsequent years (Sec. 8):

-until December 31, 2012, the same percentage as achieved by the seller during 2009; -20 percent by December 31, 2012; -25 percent by December 31, 2016; and -33 percent by December 31, 2020.

-Establishes a limitation for electrical corporations on the expenditures above market costs for procurement of renewable energy resources that are used to comply with the aforementioned minimum percentage requirements that shall equal 6 percent of the total bundled electric revenues for the corporation in 2008 multiplied by the number of years remaining until 2020 (Sec. 8). -Allows electrical corporations to procure renewable energy resources at above-market prices while exceeding the aforementioned limitation, but requires Public Utilities Commission approval for the expense to be recovered in rates (Sec. 8).

Full Bill Text