CPUC approves $738 million for transport electrification projects

CPUC approves $738 million for transport electrification projects
CPUC approves $738 million for transport electrification projects

(Reuters) - The California Public Utilities Commission (CPUC) on Thursday said it would invest $738 million in transportation electrification projects across the state, as a part of its 2030 goal for clean air and greenhouse gas reduction.

CPUC approved setting up charging stations and infrastructure to support electric passenger vehicles and trucks.

The program, which will be implemented over the next five years, will provide rebates to residents for installing charging stations at their homes and will also set up infrastructure at several sites to support the electrification of medium- or heavy-duty vehicles.

The state's California Independent Oil Marketers Association in response called the move "California's largest utility companies' $500 million money grab from the CPUC."

The association's Executive Director Ryan Hanretty in a statement said the Public Utilities Commission "unanimously approved over $500 million in handouts to the state's three largest, investor-owned, meaning 'for profit', utility companies."

CPUC said it has allocated an additional $29.5 million for program evaluation, bringing the total to nearly $768 million.

(Reporting by Nivedita Balu in Bengaluru; Editing by Cynthia Osterman)

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