California Governor Budget Seeks $8 Billion More for Energy Push

California Governor Gavin Newsom proposed spending an additional $8 billion over five years to make sure the lights stay on and help consumers pay for rising electric bills.

As part of that spending, the governor wants the state to invest $5.2 billion to create a “strategic electric reliability reserve” that could be called on when the electric grid is stressed, according to a budget revision released Friday. The backup supplies, which could provide up to 5,000 megawatts of capacity, may include existing power plants slated for retirement, new generation and battery storage projects as well as other resources.

Another chunk ...