Plain English Breakdown
The official summary mentions that violating commission actions implementing this bill would be a crime under existing law, but does not define new criminal penalties specific only to these reporting rules.
New Reporting Rules for Energy Company Rate Cases
This law requires electric and gas companies to share specific financial data, including profit returns from the past 10 years and distribution capacity project forecasts, with the Public Utilities Commission during rate reviews.
What This Bill Does
- Requires electrical or gas corporations to provide certain information as part of their general rate case filings.
- Mandates that companies report authorized and actual rates of return and returns on equity for the past 10 years.
- Asks companies to include data on distribution capacity projects related to forecasts submitted in prior general rate cases.
Who It Names or Affects
- Electrical corporations
- Gas corporations
Limits and Unknowns
- The bill states that no state reimbursement is required for local agencies but does not explain the specific reason why.
- The official text provided does not specify an effective date.