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Energy Commission

All articles tagged with #energy commission

politics2 years ago

California Empowers Energy Commission to Regulate Gas Prices and Penalize Oil Companies.

California Governor Gavin Newsom signed a bill into law giving the state's energy commission oversight power on oil companies to investigate potential price gouging and impose penalties. The law creates a new division within the California Energy Commission to investigate industry sales and pricing activities and refer violations to the Attorney General for prosecution. The law will go into effect in 90 days, but it will likely take nine to 12 months to "stand up" the new division.

via CNN|
#california#energy-commission#oil-companies
politics2 years ago

California passes landmark gas price gouging penalty law.

California lawmakers have passed the country's first penalty for gas price gouging, giving regulators the ability to punish oil companies for profiting from gas price spikes and creating an independent watchdog within the California Energy Commission. Refiners would be required to disclose new information about their pricing to regulators, with most of it to be kept confidential. Governor Gavin Newsom is expected to sign the measure into law on Tuesday. The move is part of Newsom's policy priority to take on the oil industry and protect California families from abuses of market power.

via Fox Business|
#california#energy-commission#gas-prices
politics2 years ago

California approves law to fine oil companies for price gouging at the pump.

California lawmakers have passed a landmark law that allows regulators to fine oil companies for price gouging at the pump, making it the first penalty of its kind in the US. The bill requires oil companies to disclose information about their pricing to state regulators, who will monitor and investigate the petroleum market and decide whether to impose a penalty on oil company profits and how much that penalty should be. The law is expected to be signed by Governor Gavin Newsom, who has made taking on the oil industry a major policy priority.

via The Guardian US|
#california#energy-commission#gas-prices
politics2 years ago

California Democrats pass bill to limit oil company profits and penalize price gouging.

California Governor Gavin Newsom's proposal to prevent gas price spikes in the state has passed in the Assembly. The legislation will require oil market participants to submit data to a new division within the California Energy Commission that will decide whether to cap and penalize oil refiners' profits. The bill evolved into a targeted approach to analyze complex oil industry pricing and enable penalties if the new division determines that penalties would protect consumers. The bill adds transparency to the oil market and requires the Energy Commission to justify any penalty.

via POLITICO|
#california#energy-commission#gavin-newsom
politics2 years ago

CA Senate approves proposal to penalize oil refiners for excessive profits.

The California State Senate has approved Governor Gavin Newsom's proposal to allow state regulators to consider a penalty on oil refiners when they make too much money off of California drivers. The proposal would create a new group within the California Energy Commission to gather private business information and data from refiners to consider setting a cap on company profits and potential penalty when the cap is exceeded. The bill requires the state auditor to investigate the measure before 2033, and if found ineffective, would end the program.

via KCRA Sacramento|
#california#energy-commission#gavin-newsom