Governors This Week: Power Grid Overhaul, CA Governor Recall & More

Abbott Signs TX Power Grid Overhaul:

Months after a deadly February storm killed hundreds of people, Texas Gov. Greg Abbott (R) signed a pair of bills that together overhaul the governance of the Lone Star State power grid that many blame for their deaths.

State officials say the bitterly cold storm, which left almost 5 million homes and businesses without power for five says, killed 151 residents. Analysis by media outlets, however, claims the figure is much higher: a Houston Chronicle review in April said 194 died, while a Buzzfeed analysis from May pegs the figure at approximately 700.

Abbott signed SB 3, which requires upgrades for power generators and transmission lines to make them better withstand extreme weather and establishes an emergency alert system to warn Texans of weather emergencies and power outages. Power operators that fail to cooperate will face fines of up to $1 million.

He also signed SB 2, which overhauls governance of the Electric Reliability Council of Texas (ERCOT), which oversees the state’s main power grid. The legislation shrinks ERCOT’s board from 16 to 11 members and gives the governor and lawmakers more influence over the board’s makeup. (AXIOS, TEXAS TRIBUNE)

CA Recall Will Cost Over $200 Million:

Election officials from all 58 California counties have calculated the impending recall election of Gov. Gavin Newsom (D) will cost their municipalities approximately $215 million. In a letter to lawmakers, state Department of Finance Director Keely Martin Bosler notes that figure “does not reflect the Secretary of State’s costs associated with a statewide recall election.” The cost to individual counties ranges from as low as $198,645 for tine Glenn County to $49,154,000 for Los Angeles County. (SACRAMENTO BEE, LOS ANGELES TIMES)

NV Gov Signs Bill Overhauling Investor Regulations:

Nevada Gov. Steve Sisolak (D) signed a bill last month (SB 9) that defines how investors and entrepreneurs should comply with investment laws and exempts small investor funds from regulations designed for larger funds. (LAS VEGAS REVIEW-JOURNAL)

-- Compiled by RICH EHISEN