Can Gubernatorial Candidate Tom Steyer Cut CA’s Power Bill by 25%?

It’s 2026, and “lowering utilities bills” is the new “housing affordability” for Democratic politicians.

In the governor’s race, self-funded billionaire candidate Tom Steyer is declaring he’ll reduce electricity bills by 25%. The environmentalist investor has featured the head-turning figure in ads promising that he’ll “introduce competition” to the electricity market.

“We have to take on these electric monopolies,” he says in the ads. “If we break up these monopolistic power utilities, we’ll drive down costs.”

The TV and digital ads are tailored to feature each of the three major investor-owned utilities serving the region where the ads are airing: Pacific Gas & Electric, Southern California Edison and San Diego Gas and Electric.

From Calmatters.org.