The California Public Utilities Commission (CPUC) today approved reduced electric rates at the Port of Long Beach for the next 24 years and a program for Southern California Edison to install major electric infrastructure at no cost to the Port or its tenants, so that the Port and its tenants can proceed with critical electrification and environmental improvement projects.
The new rates and electric infrastructure are the result of an intensive effort by the Long Beach Board of Harbor Commissioners, its Harbor Department staff and City Attorney Charles Parkin, in coordination with Mayor Bob Foster, to win support for electrifying more Port operations to improve air quality and increase productivity.
With a reliable, reasonably-priced supply of electricity and modern electric infrastructure, the Port and its tenants will be able to invest to continue to improve productivity and efficiency.
The Port, the second-busiest in the nation and a major economic engine for the region, is facing stiff competition for its business and jobs from other U.S. ports and ports in Canada and Mexico. Port-related international trade supports 30,000 jobs in Long Beach and 300,000 jobs in Southern California.
The new rates are projected to save maritime operators at the Port of Long Beach an estimated 15 percent each year on their electric bills over the 24-year term of the CPUC-approved reduction or approximately $350 million as compared with the current rates.