A Billionaire’s Pitch To Cut Power Bills Collides With California’s Real Costs

Tom Steyer proposes cutting Californians' power bills by at least 25% by allowing retail competition and microgrids.

He argues technology and AI can boost grid capacity and efficiency, reducing the need for costly upgrades.

Experts say higher California bills mainly reflect distribution and wildfire-related costs, not generation.

California residents pay about 30.3 cents/kWh versus a 17.45 cents national average, and utilities are spending about $30 billion on upgrades.