- Prohibits assessment of utility tax, bond payments or surcharges for payment of costs of nuclear power plants/related assets.
- Limits authority of electric companies to recover costs for non-nuclear generation plants.
- Prohibits issuance of rate reduction bonds and assessments on customers for payment of bond principal, interest, and related costs.
- Provides judicial review of Public Utilities Commission decisions relating to electric restructuring and financing costs by writ of mandate.
- May provide up to 20% electricity rate reduction for residential and small commercial customers of investor-owned utilities by January 1, 1999.
- Restricts customer information dissemination.
- State government net revenue reductions potentially in the high tens of millions of dollars annually through 2001-02.
- Local government net revenue reductions potentially in the tens of millions of dollars annually through 2001-02.
- State and local government savings in utility costs, potentially in the tens of millions of dollars annually through 2001-02.
- A YES vote of this measure means:
- There would be
significant changes to recently
enacted laws restructuring the
state's electricity industry.
Specifically, private utility
companies (1) could not charge
customers certain costs related
to nuclear power plants, and (2)
could not charge residential and
small commercial customers for
repaying bonds sold to help
finance an existing 10 percent
rate reduction. The measure also
requires an additional rate
reduction of at least 10 percent.
- A NO vote of this measure means:
- The laws that
restructured the state's
electricity industry would
not be changed. Private
utility companies would
continue to charge customers
for certain costs related to
nuclear power plants, and
would continue to charge
residential and small
commercial customers for
repaying bonds that have
been sold to help finance the
existing 10 percent rate
reduction.
- Summary of Arguments FOR Proposition 9:
- Proposition 9 cuts electric rates, reducing
consumers' bills by hundreds of dollars
each year. It stops the massive bailout of
bad utility investments in nuclear power.
It's time to send a message to
Sacramento. We want fair rates and
clean and reliable energy choices. Vote yes
on Prop 9.
Full Text of Argument In Favor,
Rebuttal
- Summary of Arguments AGAINST Proposition 9:
- Consumer, environmental,
business, police, fire, taxpayer and
school groups agree Proposition 9
can't deliver on its false promises.
Proposition 9 would: jeopardize
electric rates and reliability, hit
taxpayers with liability for $6
billion in previously sold bonds,
undermine school, police and fire
budgets, and damage California's
economy. Vote no.
Full Text of Argument Against,
Rebuttal
- Contact FOR Proposition 9:
- Californians against
Utility Taxes (CUT)
1750 Ocean Park Bl.,
Suite 200
Santa Monica, CA 90405
(310) 392-0522
http://www.nonukebailout.org
- Contact AGAINST Proposition 9:
- NO on 9 COMMITTEE
1201 K Street
Sacramento, CA 95814
(916) 341-1025
http://www.NOonProp9.org
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