WE PETITION THE CALIFORNIA PUBLIC UTILITY COMMISSION TO FREEZE ALL CURRENT AND PENDING UTILITY RATE HIKES AND REQUIRE UTILITIES TO RETURN A MINIMUM OF 80% OF ALL THEIR CORPORATE TAX SAVINGS (UNDER THE 2017 TAX LAW) TO CALIFORNIA UTILITY CUSTOMERS.
Why is this important?
ALL CALIFORNIA RESIDENTS ARE IMPACTED BY EVER INCREASING WATER, GAS, AND ELECTRIC RATES. THE IMPLEMENTATION OF THE NEW 2017 TAX LAW WILL GIVE THESE UTILITY CORPORATIONS A 40% REDUCTION IN THEIR TAX BILLS THUS INCREASING THEIR PROFITS PROPORTIONATELY. THIS WINDFALL TAX SAVINGS SHOULD BE RETURNED TO THE UTILITY CUSTOMERS (WHO ARE THE SOURCE OF UTILITY COMPANY REVENUE) IN THE FORM OF ONE TIME REBATES AND ONGOING RATE REDUCTIONS .
THIS EXCESS PROFIT SHOULD NOT BE DIVERTED TO STOCKHOLDERS, INFRASTRUCTURE, OR OTHER USES THAT ARE ALREADY ADDRESSED UNDER CURRENT RATES.
