Lame Duck Watch: Biden Energy Department Hands Out Record $15 Billion Loan to California Utility

December 17, 2024

With the last month of their term approaching, the Biden Administration is handing out a record $15 billion loan to a California utility. The low-interest loan will reportedly fund more green energy projects in the state.

The Wall Street Journal reports, 

“The Biden administration will provide a record $15 billion low-interest loan commitment to California utility company PG&E PCG 0.59%increase; green up pointing triangle to support hundreds of projects aimed at fighting the effects of climate change and improving the electrical grid. The loan by the Energy Department’s Loan Programs Office is slated to fund projects that refurbish PG&E’s hydroelectric infrastructure and upgrade power lines to support renewable-energy projects, data centers and electric vehicles.” 

However, California’s years-long push toward renewables has already earned the state the dubious distinction of having the highest power bills in the nation.

“In a state where families are already suffering the highest utility bills in the nation, Joe Biden wants to saddle families with having to pay back a record loan or he expects a default and taxpayers will be stuck with the bill,” said Daniel Turner, Founder and Executive Director for Power The Future. “This administration is burning billions on their way out the door and the next Congress must investigate the people behind these lame duck loans and hold them accountable if it turns out the taxpayers are getting fleeced.”

These latest loans are in addition to those handed out during the Thanksgiving holiday when the Biden Administration loaned $6.6 billion to a struggling EV manufacturer. That deal and the $15 billion deal will be added to LameDuckWatch.Com, our new initiative that sheds light on the waning days of the Biden-Harris administration and exposes any attempted malfeasance. In November, the American people voted to reject this agenda; it is shameful of the Biden-Harris administration to keep forcing it through.