Costa, LaMalfa Introduce Legislation to Protect Consumers from Increased Energy Fees

Washington, D.C. - Congressman Jim Costa joined Congressman Doug LaMalfa to introduce H.R. 2041, the "Public Power Risk Management Act (PPRMA)," bipartisan legislation would provide stability in energy prices for consumers. This bill would remove barriers placed on municipal utilities that prevent them from taking actions to hedge against price volatility in the energy market and to protect consumers from a spike in utility fees.

"No law is perfect, and Dodd-Frank, which provides vital consumer protections to ensure that another financial crisis doesn't cripple the economy of the United States, is no exception. Our local utilities work diligently to provide their customers with a reliable source of energy at a stable price and should have maximum flexibility to do so in a fiscally responsible manner." said Rep. Costa. "This bipartisan legislation will ensure that one tool used by local utilities to ensure that Valley families have stable energy prices will continue to remain available on a permanent basis."

"Americans deserve access to affordable, reliable energy and public utilities should have the ability to provide these services without facing unnecessary red tape. Millions of ratepayers in California, and across the country, rely on public power, and H.R. 2041 ensures that this problem is fixed permanently," said Rep. LaMalfa.

"We are very glad to see the PPRMA reintroduced and appreciate the Congressmen's commitment to seeing this issue put to rest," said Casey Hashimoto, General Manager for Turlock Irrigation District.