Electricity.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill aims to improve the efficiency and cost-effectiveness of California’s electrical grid. It requires the Public Utilities Commission to establish performance metrics for large electrical corporations, focusing on reliability, cost, and greenhouse gas emissions. The bill also mandates reduced returns on equity for certain capital costs and encourages the use of alternative financing methods for grid investments, while promoting transparency through public data reporting on grid utilization.
Key provisions
- Requires the Public Utilities Commission to establish performance-based metrics for large electrical corporations, including metrics related to distribution system reliability, transmission system utilization, and wildfire mitigation.
- Mandates reduced returns on equity for specific types of capital costs, such as balancing account costs and undergrounding projects.
- Requires large electrical corporations to offer incentive compensation structures for employees, tied to the average cost of electricity.
- Directs the commission to evaluate and recommend alternative financing methods for electrical distribution, generation, and transmission.
- Requires electrical corporations to publicly report data on grid utilization to identify opportunities for increased efficiency.
- Establishes a timeline for the commission to initiate a rulemaking proceeding on alternative financing methods.
- Requires the commission to create a public dashboard with performance metrics data.
Bill text
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