CAL.Regulation
California requires utilities to report taxpayer funding and pass savings to ratepayers
AB 1715 (Chapter 372), signed September 20, requires each electrical or gas corporation to file quarterly reports with the Public Utilities Commission on taxpayer funding of $1 million or more from federal programs including the Infrastructure Investment and Jobs Act, Inflation Reduction Act, or CHIPS Act. Reports must detail sources, spending plans, and expected ratepayer savings. The commission must require utilities to pass funding benefits through to ratepayers via rate adjustments. The reporting duty ends January 1, 2037.
Enrolled text (California Legislative Information) → · Governor of California
Key points
- Quarterly reports cover grants, loans, and bonds of $1 million or more applied for or received since the prior quarter.California Legislative Information
- Reports must name the funding source and amount, lay out a spending plan, and calculate expected ratepayer savings.California Legislative Information
- The commission must require utilities to pass taxpayer-funding benefits to ratepayers through revenue-requirement and rate adjustments.California Legislative Information
- The commission may pursue enforcement for reporting noncompliance and penalize failures to disclose in ratepayer-funding applications.California Legislative Information
- The reporting requirement is repealed January 1, 2037.California Legislative Information
Sources2 articles across 2 outlets
California Legislative Information
Governor of California