Tom Steyer poked the utility bear. It’s biting back.
The billionaire financier-turned-environmentalist launched his campaign by promising to break up California’s “utility monopolies” and hasn’t backed down since, repeatedly calling out energy companies by name on the campaign trail for what he says are their exorbitant rates and poor service.
Pacific Gas & Electric, a frequent target of Steyer’s, isn’t turning the other cheek. In the past month, PG&E has poured over $11 million into a campaign committee it sponsors to oppose Steyer.
Advertisement
It’s a departure from the typical political playbook for California utilities, according to Democratic strategist Steve Maviglio.
