CaliforniaPublic Utilities Commission: rates: cost of capital proceeding: authorized return on equity.
What it does
Existing law vests the Public Utilities Commission with regulatory authority over public utilities, including electrical corporations and gas corporations. Existing law authorizes the commission to fix the rates and charges for every public utility and requires that those rates and charges be just and reasonable.
More detail
This bill would require the commission, in any proceeding in which the commission considers and determines the authorized return on equity for an electrical corporation or gas corporation, to be known as a cost of capital proceeding, that results in a decision issued on or after December 31, 2030, to include its own assessment of the proposals submitted by the parties and specified information, including, among other things, an identification of each financial model the commission relied upon in determining the authorized return on equity and an analysis of the relationship between the credit quality of the electrical corporation or gas corporation and the authorized return on equity. If, in any cost of capital proceeding, the commission adopts a methodology for determining the authorized return on equity that differs in any material respect from the methodology disclosed in the most recent prior decision in which the commission determined an authorized return on equity for the same electrical corporation or gas corporation, the bill would require the commission to identify each material departure from the prior methodology and provide a reasoned explanation for each material departure.
Existing law requires the commission to develop, publish, and annually update a report containing specified information, including the commission's annual work plan and a summary of deenergization event trends, as specified. Existing law requires the commission to post the report in a conspicuous area of its internet website.
This bill would require the commission to include the analysis of the trends in the California corporation credit ratings described above in that annual report to the Legislature, as provided.
Under existing law, a violation of an order, decision, rule, direction, demand, or requirement of the commission is a crime.
Because a violation of a commission action implementing this bill's requirements would be a crime, the bill would impose a state-mandated local program.
The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.
This bill would provide that no reimbursement is required by this act for a specified reason.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 30Chaptered by Secretary of State - Chapter 943, Statutes of 2026.Latest
- Sep 30Approved by the Governor Gavin Newsom.Became Law
- Sep 3Enrolled and presented to the Governor at 4 p.m.To Governor
- Aug 26Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 6583.).Major
- Vote recorded AB 2463 Petrie-Norris Concurrence in Senate Amendments. Result: pass.Lower
- Aug 25In Assembly. Concurrence in Senate amendments pending.
- Vote recorded 3rd Reading AB2463 Petrie-Norris By Allen. Result: pass.Upper
- Aug 25Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0.).Passed Senate
- Aug 17Read second time. Ordered to third reading.Minor
- Aug 13Read second time and amended. Ordered returned to second reading.Major
- Vote recorded Do pass as amended. Result: pass.Upper
- Aug 13From committee: Amend, and do pass as amended. (Ayes 7. Noes 0.) (August 13).Major
- Aug 3In committee: Referred to APPR. suspense file.Minor
- Vote recorded Placed on suspense file. Result: pass.Upper
- Jun 24In committee: Set, first hearing. Hearing canceled at the request of author.
- Jun 16From committee: Do pass and re-refer to Com. on APPR. (Ayes 17. Noes 0.) (June 16). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations]. Result: pass.Upper
- Jun 3Referred to Com. on E., U & C.Minor
- May 27In Senate. Read first time. To Com. on RLS. for assignment.Minor
- May 26Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 5323.)Passed Assembly
- Vote recorded AB 2463 Petrie-Norris Assembly Third Reading. Result: pass.Lower
- May 18Read second time. Ordered to third reading.Minor
- May 14From committee: Do pass. (Ayes 15. Noes 0.) (May 14).Minor
- Vote recorded Do pass. Result: pass.Lower
- May 6In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- Apr 14Re-referred to Com. on APPR.Minor
- Apr 13Read second time and amended.Major
- Apr 9From committee: Amend, and do pass as amended and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 17. Noes 0.) (April 8).Major
- Apr 8
- Vote recorded Do pass as amended, and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar. Result: pass.Lower
- Apr 6Re-referred to Com. on U. & E.Minor
- Mar 26From committee chair, with author's amendments: Amend, and re-refer to Com. on U. & E. Read second time and amended.Major
- Mar 9Referred to Com. on U. & E.Minor
- Feb 21From printer. May be heard in committee March 23.
- Feb 20Read first time. To print.Introduced