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<ns0:Id>20250SB__033294AMD</ns0:Id>
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<ns0:History>
<ns0:Action>
<ns0:ActionText>INTRODUCED</ns0:ActionText>
<ns0:ActionDate>2025-02-12</ns0:ActionDate>
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<ns0:ActionText>AMENDED_SENATE</ns0:ActionText>
<ns0:ActionDate>2025-04-07</ns0:ActionDate>
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<ns0:ActionText>AMENDED_SENATE</ns0:ActionText>
<ns0:ActionDate>2025-04-23</ns0:ActionDate>
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<ns0:ActionText>AMENDED_SENATE</ns0:ActionText>
<ns0:ActionDate>2025-05-28</ns0:ActionDate>
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<ns0:ActionText>AMENDED_ASSEMBLY</ns0:ActionText>
<ns0:ActionDate>2025-06-30</ns0:ActionDate>
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<ns0:ActionText>AMENDED_ASSEMBLY</ns0:ActionText>
<ns0:ActionDate>2025-07-14</ns0:ActionDate>
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<ns0:SessionYear>2025</ns0:SessionYear>
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<ns0:MeasureNum>332</ns0:MeasureNum>
<ns0:MeasureState>AMD</ns0:MeasureState>
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<ns0:AuthorText authorType="LEAD_AUTHOR">Introduced by Senator Wahab</ns0:AuthorText>
<ns0:AuthorText authorType="COAUTHOR_ORIGINATING">(Coauthor: Senator Hurtado)</ns0:AuthorText>
<ns0:AuthorText authorType="COAUTHOR_OPPOSITE">(Coauthors: Assembly Members Garcia and Ortega)</ns0:AuthorText>
<ns0:Authors>
<ns0:Legislator>
<ns0:Contribution>LEAD_AUTHOR</ns0:Contribution>
<ns0:House>SENATE</ns0:House>
<ns0:Name>Wahab</ns0:Name>
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<ns0:Legislator>
<ns0:Contribution>COAUTHOR</ns0:Contribution>
<ns0:House>SENATE</ns0:House>
<ns0:Name>Hurtado</ns0:Name>
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<ns0:Legislator>
<ns0:Contribution>COAUTHOR</ns0:Contribution>
<ns0:House>ASSEMBLY</ns0:House>
<ns0:Name>Garcia</ns0:Name>
</ns0:Legislator>
<ns0:Legislator>
<ns0:Contribution>COAUTHOR</ns0:Contribution>
<ns0:House>ASSEMBLY</ns0:House>
<ns0:Name>Ortega</ns0:Name>
</ns0:Legislator>
</ns0:Authors>
<ns0:Title> An act to add Chapter 3.5 (commencing with Section 25250) to Division 15 of the Public Resources Code, and to amend Sections 718 and 8389 of, and to add Chapter 10 (commencing with Section 8450) to Division 4.1 of, the Public Utilities Code, relating to energy.</ns0:Title>
<ns0:RelatingClause>energy</ns0:RelatingClause>
<ns0:GeneralSubject>
<ns0:Subject>Investor-Owned Utilities Accountability Act.</ns0:Subject>
</ns0:GeneralSubject>
<ns0:DigestText>
<html:p>
(1)
<html:span class="EnSpace"/>
Existing law vests the State Energy Resources Conservation and Development Commission (Energy Commission) with various responsibilities for developing and implementing the state’s energy policies.
</html:p>
<html:p>This bill would require the Energy Commission to select a research institute, as defined, to conduct a comparative analysis of the benefits and challenges of transitioning the electrical corporations to a public entity, nonprofit public benefit corporation, or mutual benefit corporation in order to identify a recommended model, as provided. The bill would require the research institute to complete the analysis on or before January 1, 2029, and, upon completion, to submit the analysis to the Legislature and the Energy Commission. The bill would require the Energy Commission to make a draft of the analysis available to the
public for comment before submitting the final draft to the Legislature, and would limit the cost of conducting the analysis to $5,000,000.</html:p>
<html:p>This bill would require the research institute to conduct the first phase of the comparative analysis and to submit an interim report, on or before December 31, 2026, to the Energy Commission on threshold legal issues, as provided. The bill would require the Energy Commission to convene a group of state attorneys from the legal departments of state agencies that regulate electrical corporations to advise the research institute on the first phase of the comparative analysis, as specified.</html:p>
<html:p>This bill would, upon completion of the analysis by the research institute, require the Energy Commission to present the analysis at a publicly noticed business meeting on or before September 30,
2029.</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Existing law vests the Public Utilities Commission (PUC) with regulatory authority over public utilities, including electrical corporations and gas corporations, while local publicly owned utilities are under the direction of their governing boards. Existing law prohibits an electrical corporation, gas corporation, or water corporation from terminating a customer’s residential service for nonpayment of a delinquent account in certain circumstances, including, among other circumstances, unless the corporation first gives notice to the customer of the delinquency and impending termination, during the pendency of an investigation by the corporation of the customer’s dispute or complaint, or when the customer has been granted an extension of the period for payment of a bill.
</html:p>
<html:p>This bill would require
each electrical corporation and gas corporation, on or before March 1, 2026, and each local publically owned electric utility, on or before March 1, 2027, and annually thereafter, to post specified information concerning terminations of service due to nonpayment on their respective internet websites, as provided.</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
Existing law requires the Director of the Office of Energy Infrastructure Safety to issue a safety certification that is valid for 12 months after the date of issuance to an electrical corporation if the electrical corporation provides documentation that it is meeting certain requirements and that it has an approved executive incentive
compensation structure
that is structured to promote safety as a priority and to ensure public safety and utility financial stability with performance metrics, as specified.
</html:p>
<html:p>This bill would additionally require that the electrical corporation’s executive incentive compensation structure is structured to ensure ratepayer affordability, as provided. The bill would also require, for purposes of the safety certification, that documentation related to compensation include specified dollar amounts.</html:p>
<html:p>Existing law requires the PUC to develop policies, rules, or regulations with a goal of reducing the statewide level of gas and electrical service disconnections for nonpayment by residential customers, as specified. Existing law
requires the PUC to include in an annual report to the Legislature information on residential and household gas and electrical service disconnections, disaggregated by certain customer categories.</html:p>
<html:p>This bill would require the PUC to provide any public nonconfidential data collected pursuant to the above-described provisions to the Office of Energy Infrastructure Safety for the purpose of reviewing ratepayer affordability when assessing executive compensation under the above-described provisions.</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
Under existing law, a violation of the Public Utilities Act or any order, decision, rule, direction,
demand, or requirement of the PUC is a crime.
</html:p>
<html:p>Because certain provisions of this bill would be part of the act and a violation of a PUC action implementing the bill’s requirements would be a crime, the bill would impose a state-mandated local program.</html:p>
<html:p>In addition, to the extent the bill would impose new requirements on local publicly owned utilities, the bill would impose a state-mandated local program.</html:p>
<html:p>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.</html:p>
<html:p>This bill would provide that no reimbursement is required by this act for specified reasons.</html:p>
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<ns0:DigestKey>
<ns0:VoteRequired>MAJORITY</ns0:VoteRequired>
<ns0:Appropriation>NO</ns0:Appropriation>
<ns0:FiscalCommittee>YES</ns0:FiscalCommittee>
<ns0:LocalProgram>YES</ns0:LocalProgram>
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<ns0:ImmediateEffect>NO</ns0:ImmediateEffect>
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<ns0:Urgency>NO</ns0:Urgency>
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<ns0:Election>NO</ns0:Election>
<ns0:UsualCurrentExpenses>NO</ns0:UsualCurrentExpenses>
<ns0:BudgetBill>NO</ns0:BudgetBill>
<ns0:Prop25TrailerBill>NO</ns0:Prop25TrailerBill>
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<ns0:Preamble>The people of the State of California do enact as follows:</ns0:Preamble>
<ns0:BillSection id="id_F9E9CF64-EAC6-4DBB-9F1C-C7CCC3761D72">
<ns0:Num>SECTION 1.</ns0:Num>
<ns0:Content>
<html:p>This act shall be known, and may be cited, as the Investor-Owned Utilities Accountability Act.</html:p>
</ns0:Content>
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<ns0:BillSection id="id_4D92DFA5-6ABF-45E4-81DB-5FBEA0CC6A4B">
<ns0:Num>SEC. 2.</ns0:Num>
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
The Legislature finds and declares all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Pacific Gas and Electric Company (PG&E), Southern California Edison Company (SCE), San Diego Gas and Electric Company
(SDG&E), and SoCalGas are investor-owned utilities (IOUs) that have collectively provided electrical and gas service to California ratepayers as regulated public utility monopolies for over 100
years.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
According to a January 2025 report by the Legislative Analyst’s Office, electricity rates are higher in IOU service territories across California than in
the service territories of not-for-profit utilities, including municipal utilities, rural electric cooperatives, and tribal utilities. On average, California IOU electricity rates are more than 50 percent higher than electricity rates charged by publicly owned utilities, and, for IOU customers in California,
electricity rates have increased nearly 50 percent over the past three years.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
IOU electricity rates are set by the Public Utilities Commission through a general rate case every three to four years, which includes review of all IOU expenses, establishing a rate of return (profits for shareholders), and a determination that the rates are just and reasonable. IOUs can also request annual rate increases and emergency supplements. From January 2021 to October 2024, inclusive, PG&E residential rates increased by 56 percent, SCE rates increased by 48 percent, and SDG&E rates increased by 21 percent.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
From August 2022 to August 2024, inclusive, PG&E, SCE, and SDG&E also compensated their shareholders with $7.62 billion in
dividends, according to a recent report.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
Investigations have concluded that IOUs have caused some of California’s most destructive wildfires. Assembly Bill 1054 (Chapter 79 of the Statutes of 2019) established a wildfire insurance fund of $21 billion, funded in part by ratepayers.
</html:p>
<html:p>
(6)
<html:span class="EnSpace"/>
The State of California created the not-for-profit public benefit corporation, Golden State Energy, designated as a receiver for PG&E’s assets, through passing Senate Bill 350 (Chapter 27 of the Statutes of 2020) for the purpose of owning, controlling, operating, or managing electrical and gas services for its ratepayers, for the benefit of all Californians if PG&E were to lose its business license in a six-step accountability process overseen by the Public Utilities Commission. At that time, PG&E was in bankruptcy after incurring
liabilities for wildfires caused by its equipment. Senate Bill 350 created a successor in name only and did not receive PG&E assets.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
The intent of this bill is to build on Senate Bill 350
(Chapter 27 of the Statutes of 2020) by authorizing an in-depth
study
to assess the practical, financial, legal, regulatory, labor, and technical aspects of a smooth and just transition away from the IOU model to one that prioritizes the needs of the people and ecology of the State of California.
</html:p>
</ns0:Content>
</ns0:BillSection>
<ns0:BillSection id="id_61F958F7-1893-4AB7-AC55-9A2FA4708420">
<ns0:Num>SEC. 3.</ns0:Num>
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Chapter 3.5 (commencing with Section 25250) is added to Division 15 of the
<ns0:DocName>Public Resources Code</ns0:DocName>
, to read:
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<ns0:Fragment>
<ns0:LawHeading id="id_CAD8170B-CB46-470A-B448-CB8282BAC2A0" type="CHAPTER">
<ns0:Num>3.5.</ns0:Num>
<ns0:LawHeadingVersion id="id_9D593F96-A499-4E80-944E-7CE8DA882D6C">
<ns0:LawHeadingText>Investor-Owned Utility Transition Feasibility Study</ns0:LawHeadingText>
</ns0:LawHeadingVersion>
<ns0:LawSection id="id_6E9099DC-E7EC-40F5-A29C-5574D7DAA069">
<ns0:Num>25250.</ns0:Num>
<ns0:LawSectionVersion id="id_ACBAEB9C-8792-4EA2-A268-48E27D519284">
<ns0:Content>
<html:p>For purposes of this chapter, all of the following definitions apply:</html:p>
<html:p>
(a)
<html:span class="EnSpace"/>
“Critical minerals” means those minerals specified by the United States Geological Survey as essential to the economic or national security of the United States, have a supply chain that is vulnerable to disruption, and serve an essential function in the manufacturing of a product, the absence of which would have significant consequences for the economic or national security of the United States. Critical minerals do not include fuel minerals, water, ice, or snow, or common varieties of sand, gravel, stone, pumice, cinders, or clay.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
“Disadvantaged communities advisory group” means the disadvantaged communities advisory group established pursuant to subdivision (g) of Section 400 of the Public Utilities Code.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
“Disadvantaged community” means a community identified pursuant to Section 39711 of the Health and Safety Code.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
“Distributed energy resources” means distributed renewable generation resources, energy efficiency, energy storage, electric vehicles, and demand response technologies.
</html:p>
<html:p>
(e)
<html:span class="EnSpace"/>
“Electrical corporation” means the same as defined in Section 218 of the Public Utilities Code, but does not include electrical cooperatives as defined in Section 2776 of the Public Utilities Code.
</html:p>
<html:p>
(f)
<html:span class="EnSpace"/>
“Energy justice” means the goal of achieving equity in both the social and economic participation in the energy system, while also remediating the social, economic, and health burdens of those historically harmed by the energy system, including disadvantaged communities, low-income communities, and federally recognized California Indian tribes and nonfederally recognized California Native American tribes that are on the list maintained by the Native American Heritage Commission.
</html:p>
<html:p>
(g)
<html:span class="EnSpace"/>
“Equity,” “just,” and “justice” describe the goal of
creating systems, organizations, and societies that are fair and just, recognizing where disadvantages and barriers exist, and allocating resources and support to ensure equal access and opportunity for all populations.
</html:p>
<html:p>
(h)
<html:span class="EnSpace"/>
“Just transition” means a framework for a fair shift to an economy that is ecologically sustainable, equitable, and just for all its members.
</html:p>
<html:p>
(i)
<html:span class="EnSpace"/>
“Labor institute” means the UC Berkeley Labor Center or the UCLA Labor Center.
</html:p>
<html:p>
(j)
<html:span class="EnSpace"/>
“Low-income” means at or below 80 percent of the state median income.
</html:p>
<html:p>
(k)
<html:span class="EnSpace"/>
“Research institute” means an academic institution that can satisfy the requirements of this chapter with experience
studying public utilities, energy, and economics.
“Research institute” may include, but is not limited to, the Institute of the Environment and Sustainability at UCLA, the Goldman School of Public Policy at the University of California, Berkeley, or the Initiative for Climate Leadership and Resilience at California Polytechnic State University, San Luis Obispo.
</html:p>
<html:p>
(l)
<html:span class="EnSpace"/>
“Successor entity” means a public entity, nonprofit public benefit corporation, or mutual benefit corporation.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
<ns0:LawSection id="id_63A3CCED-E687-48CE-929F-4F8F4F2A9B69">
<ns0:Num>25251.</ns0:Num>
<ns0:LawSectionVersion id="id_42ADFCC4-E44A-49D3-870F-54F4A698106E">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
The commission shall select a research institute to conduct the comparative analysis described in subdivision (b). The research institute shall consult with a labor institute, if the labor institute chooses to participate, in conducting all aspects of the comparative analysis with respect to impacts on workforce and labor relations. The research institute shall complete the comparative analysis on or before January 1, 2029, and, upon completion, shall submit the comparative analysis to the Legislature, in compliance with Section 9795 of the Government Code, and to the commission.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
Consistent with Section
25254, the research institute shall complete a comparative analysis of the benefits and challenges of transitioning the electrical corporations to a successor entity in order to identify a recommended model, assess the feasibility of transitioning the electrical corporations to a successor entity, and identify priority just design features for the successor entity, with the goal of serving the public interest and necessity of the people and ecologies of California.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
(1)
<html:span class="EnSpace"/>
The commission shall solicit input from the disadvantaged communities advisory group, with supporting resources and recommendations from the Public Utilities Commission, on the scope of work to be performed by the selected research institute, on the financial modeling inputs to be used to determine economic
benefits, and for comments on all preliminary and final drafts of the comparative analysis.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Comments and recommendations from the disadvantaged communities advisory group that are not incorporated by the research institute shall be included as an addendum to the comparative analysis.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
Consistent with ordinary practice, the commission shall make a draft of the comparative analysis available to the public for comment before submitting the final draft of the comparative analysis to the Legislature.
</html:p>
<html:p>
(e)
<html:span class="EnSpace"/>
The cost of conducting the comparative analysis pursuant to this chapter shall not exceed five million dollars ($5,000,000).
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
<ns0:LawSection id="id_459B21B4-4838-4E31-A6AE-D967D6C0189B">
<ns0:Num>25252.</ns0:Num>
<ns0:LawSectionVersion id="id_1EE50173-ABA3-4513-904A-7CFCE8374BEE">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
Notwithstanding any other provision of this chapter, on or before December 31, 2026, the research institute shall conduct the first phase of the comparative analysis and submit an interim report to the commission on threshold legal issues, including identifying and analyzing all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Legal parameters generally associated with each corporate form listed as a successor entity.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
All legal obligations currently applicable to electrical corporations under federal and state law and regulations, including obligations imposed by the Public Utilities Commission pursuant to its authority under the California Constitution, and local requirements.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
Legal barriers and legally permissible pathways to transition an electrical corporation’s assets, operations, and legal obligations to each successor entity corporate form.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
Changes in law necessary to ensure all electrical corporation legal obligations would apply to each type of successor entity, without jeopardizing the provision of safe, reliable, and affordable service.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
Recommendations for narrowing the scope of the remainder of the comparative analysis based on conclusions from the initial legal analysis.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
The commission shall convene a group of state attorneys from the legal departments of state agencies that regulate electrical corporations, including, but not limited to, the Public Utilities Commission, the commission, the
Independent System Operator, the State Air Resources Board, the Office of Emergency Services, the Department of Forestry and Fire Protection, the Attorney General, and the Natural Resources Agency, to advise the research institute on the first phase of the comparative analysis.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
<ns0:LawSection id="id_EFC99A2A-8000-4DF2-AC74-98E863899650">
<ns0:Num>25253.</ns0:Num>
<ns0:LawSectionVersion id="id_1E2A62E7-1FC3-4817-9932-24A1F891B1DA">
<ns0:Content>
<html:p>The commission, research institute, and disadvantaged communities advisory group may solicit input from stakeholders, including, but not limited to, stakeholders with the following lived experiences or subject matter expertise:</html:p>
<html:p>
(a)
<html:span class="EnSpace"/>
Any relevant electrical utilities, including, but not limited to, tribal utilities, or electrical utilities that have undergone a transition as considered in this chapter.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
Community choice aggregation.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
Low-income residential ratepayer advocacy.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
Equitable rate design and utility cost allocation.
</html:p>
<html:p>
(e)
<html:span class="EnSpace"/>
Environmental justice, energy justice, or utility justice issues.
</html:p>
<html:p>
(f)
<html:span class="EnSpace"/>
Racial and economic justice.
</html:p>
<html:p>
(g)
<html:span class="EnSpace"/>
Survivors of wildfires caused by infrastructure owned and operated by electrical corporations.
</html:p>
<html:p>
(h)
<html:span class="EnSpace"/>
Disability rights.
</html:p>
<html:p>
(i)
<html:span class="EnSpace"/>
Federally recognized California Indian tribes.
</html:p>
<html:p>
(j)
<html:span class="EnSpace"/>
Nonfederally recognized California Native American
tribes that are on the list maintained by the Native American Heritage Commission.
</html:p>
<html:p>
(k)
<html:span class="EnSpace"/>
Labor unions representing utility workers.
</html:p>
<html:p>
(l)
<html:span class="EnSpace"/>
Inclusive workforce development.
</html:p>
<html:p>
(m)
<html:span class="EnSpace"/>
Deep knowledge of distributed energy resources and grid architecture.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
<ns0:LawSection id="id_37697D88-F3AA-4114-A751-293C454233D4">
<ns0:Num>25254.</ns0:Num>
<ns0:LawSectionVersion id="id_5465577D-1E83-4B09-821D-1BCB86A6053A">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
The comparative analysis of the benefits and challenges component of transitioning the electrical corporations to a recommended successor entity described in subdivision (b) of Section 25251 shall provide a comparative assessment of transitioning the electrical corporations to either a public entity, nonprofit public benefit corporation, or mutual benefit corporation, assess the overall feasibility of transitioning the electrical corporations to a successor entity, and identify priority energy just design features for a successor entity.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
The comparative analysis shall comprise all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
An assessment of all legal, economic, financial, governance, and other relevant aspects of the ownership types required to successfully transition the assets and operations of the electrical corporations to a nonprofit public benefit corporation, such as Golden State Energy, a mutual benefit corporation, or a publicly owned electric utility, which may be in existence or yet to be formed.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
(A)
<html:span class="EnSpace"/>
A determination of the structural limitations or advantages of each ownership type relative to the successor entity’s ability to serve the people of California and to achieve all of the following policy objectives:
</html:p>
<html:p>
(i)
<html:span class="EnSpace"/>
A demonstrable reduction in electricity costs for customers over a 30-year period, with a focus on increasing energy bill affordability for low-income communities, disadvantaged communities, and federally recognized California Indian tribes and nonfederally recognized California Native American tribes, ensuring electricity costs are between 3 percent and 6 percent of household income.
</html:p>
<html:p>
(ii)
<html:span class="EnSpace"/>
Maintain or increase the pay and benefits of workers transitioning from electrical corporation employment, ensure the continuity of good union jobs, and promote inclusive workforce development in the region.
</html:p>
<html:p>
(iii)
<html:span class="EnSpace"/>
Increased public accountability, trust, and transparency in governing structures, financial spending, maintenance, and
infrastructure decisions.
</html:p>
<html:p>
(iv)
<html:span class="EnSpace"/>
Rapid integration of clean energy and decarbonization strategies, including the successor entity’s capacity to rapidly interconnect renewables, storage, and community-driven solutions.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
The comparative analysis shall include clear, actionable recommendations for which ownership structure or structures are best suited to achieve each objective.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
An assessment of the liability incurred by, and during, the electrical corporation’s ownership, including specifying the portion of risks and liabilities likely to be transferred to a successor entity.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
A quantification of the electrical corporation’s current tax obligations to
the state.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
The feasibility assessment shall include all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Identification of legal and regulatory issues, and recommendations for addressing these issues, that might arise from transitioning the assets and operations of the electrical corporations and their respective operations as described in this chapter, and post-transition, in order to do all of the following:
</html:p>
<html:p>
(A)
<html:span class="EnSpace"/>
Establish municipal utility districts, rural electric cooperatives, and tribal utilities within current electrical corporation territories.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
Safeguard or strengthen the worker and labor benefits, including union protections, during and after the transition period, and
provide for workers’ rights and a just transition for workers impacted by the decommissioning of unsafe, polluting infrastructure.
</html:p>
<html:p>
(C)
<html:span class="EnSpace"/>
Identify and decommission generation, transmission, and piping infrastructure transferred to the successor entity that is unsafe and polluting, prioritizing infrastructure that is causing disproportionate harms in disadvantaged communities, low-income communities, federally recognized California Indian tribes, or nonfederally recognized California Native American tribes.
</html:p>
<html:p>
(D)
<html:span class="EnSpace"/>
Manage future wildfire liability.
</html:p>
<html:p>
(E)
<html:span class="EnSpace"/>
Equitably decommission gas infrastructure and transition towards electrification, prioritizing the decommissioning of gas powerplants in disadvantaged communities and replacement with community-owned
distributed energy resources without unduly burdening ratepayers, especially low-income or disadvantaged ratepayers, with associated costs.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
A preliminary evaluation of the long-term costs and benefits over at least a 30-year horizon of a transfer in ownership to a successor entity, including an assumption for clean energy, electrification, and grid investments at a pace in accordance with state climate goals. This evaluation shall incorporate all of the following:
</html:p>
<html:p>
(A)
<html:span class="EnSpace"/>
Sensitivity analyses of key financial and policy variables, including, but not limited to, initial purchase price of electrical
corporation assets, interest rates, assumed rate of capital investment in the electrical grid, and pace of electrification. The analyses shall consider a range of scenarios, from conservative to aggressive investment trajectories, to reflect uncertainty and assess relative risk exposure.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
Explicit model investment scenarios that align with California’s climate mandates and wildfire risk mitigation goals, including rapid, robust electrical grid modernization and distributed energy integration.
</html:p>
<html:p>
(C)
<html:span class="EnSpace"/>
A comparative assessment of the cost of capital under different ownership structures, and how this affects total system costs under varying levels of capital expenditure.
</html:p>
<html:p>
(D)
<html:span class="EnSpace"/>
Recommendations for optimal
financing for purchases and transition and electrical grid investments by the successor entity, including, but not limited to, the issuance of lowest cost debt, securitization to offset any initial rate impact, necessary regulatory and legal adjustments, and tax-exempt bonding for municipal utilities.
</html:p>
<html:p>
(E)
<html:span class="EnSpace"/>
Consideration of the portion of utility capital expenses paid for by ratepayer contributions.
</html:p>
<html:p>
(F)
<html:span class="EnSpace"/>
Application of all legally claimed depreciation of assets by the electrical corporations.
</html:p>
<html:p>
(G)
<html:span class="EnSpace"/>
Equitable finance and revenue sources that may be available to the successor entity for its operational needs, including for purchase, maintenance, and upgrades, with information regarding all of the following:
</html:p>
<html:p>
(i)
<html:span class="EnSpace"/>
Mechanisms to support the creditworthiness of the successor entity during the early years of operation.
</html:p>
<html:p>
(ii)
<html:span class="EnSpace"/>
Access to bonds.
</html:p>
<html:p>
(iii)
<html:span class="EnSpace"/>
Long-term opportunities for public financing.
</html:p>
<html:p>
(iv)
<html:span class="EnSpace"/>
Ability to leverage federal funding in the form of “elective pay,” as outlined in the Inflation Reduction Act of 2022 (Public Law 117-169).
</html:p>
<html:p>
(v)
<html:span class="EnSpace"/>
Evaluation of revenue collected from rates and other financial resources in relation to the projected operational, maintenance, investment, and equity-related costs of the successor entity. This shall include analysis of whether these revenue sources are sufficient to meet
the successor entity’s statutory obligations and mission-aligned priorities, including affordability, equity, reliability, and climate resilience.
</html:p>
<html:p>
(H)
<html:span class="EnSpace"/>
An analysis of the implications of regional transmission use by noncustomer entities, and clear recommendations for mechanisms to ensure that the financial benefits of lower cost capital for transmission infrastructure accrue primarily to the customers of the successor entity, particularly those responsible for financing the asset acquisition. The analysis shall consider options to allocate savings fairly and avoid unintended cross-subsidization by customers who bear acquisition and transition costs.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
A thorough consideration of which electrical corporation assets should be prioritized for transfer and a timeline for
those transfers, including full consideration of all of the following:
</html:p>
<html:p>
(A)
<html:span class="EnSpace"/>
The merits or risks of splitting ownership of the electrical corporation’s distribution infrastructure, transmission infrastructure, program administration, generation, and retail energy services, with clear recommendations regarding the most effective approach or approaches.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
The merits or risks of splitting ownership by geographic territory, with a clear recommendation regarding whether and how geographic division would support or hinder the goals of the successor entity.
</html:p>
<html:p>
(C)
<html:span class="EnSpace"/>
Grid architectures that maximize distributed energy resources and future needs for distribution system operator infrastructure.
</html:p>
<html:p>
(D)
<html:span class="EnSpace"/>
Potential benefits, if any, that may be realized by separating the ownership and operation of the electrical distribution system for future distribution system operator models.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
The final analysis shall provide clear, prioritized recommendations for legal, economic, financial, and governance pathways that best fulfill the goals outlined in this section, based on the evidence and scenario modeling described above.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
The final analysis shall recommend the just design features of a successor entity and the mechanisms to achieve those features, including, but not be limited to, all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Increasing social equity, electrical system reliability
and performance, ecological sustainability, and climate resilience, including the ability to adapt to adverse climate-related weather disasters and other economic, social, and infrastructural crises.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Minimizing environmental health harms in the region and in homes.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
Enhancing stewardship of finite resources and fragile ecologies through reducing the need for future large scale buildout, land clearing, or installation of ecologically disruptive energy generation, transmission, and distribution assets, and minimizing extraction of critical minerals.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
Prioritizing the needs of disadvantaged communities, low-income communities, federally recognized California Indian tribes, and nonfederally recognized
California Native American tribes and residents of high fire risk areas.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
Creating innovative participatory governance and accountability structures that enable community members, including low-income members and users with disabilities, to meaningfully impact the priorities of the successor entity.
</html:p>
<html:p>
(6)
<html:span class="EnSpace"/>
Adopting mechanisms for sustained public engagement and transparency that holds the successor entity accountable to its mission to serve the community’s well-being.
</html:p>
<html:p>
(7)
<html:span class="EnSpace"/>
Creating alternative mechanisms to utility disconnections to cover nonpayment by customers.
</html:p>
<html:p>
(8)
<html:span class="EnSpace"/>
Including nonenergy impacts, social costs and benefits,
health impacts, and more equitable climate outcomes in evaluating cost-effectiveness and decisionmaking.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
<ns0:LawSection id="id_73DB8B68-9CD6-4A5D-A98B-AED87BED18F7">
<ns0:Num>25255.</ns0:Num>
<ns0:LawSectionVersion id="id_084D8673-8557-4DCD-99DD-972E7C26A6D7">
<ns0:Content>
<html:p>Upon completion of the comparative analysis described in Section 25254 by the research institute, on or before September 30, 2029, the commission, through a public process, shall present the analysis at a publicly noticed business meeting.</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:LawHeading>
</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_06F38A41-DCFA-4207-9A1D-BB10E7276279">
<ns0:Num>SEC. 4.</ns0:Num>
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Section 718 of the
<ns0:DocName>Public Utilities Code</ns0:DocName>
is amended to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_8012953B-E096-4F16-B9D2-638054535463">
<ns0:Num>718.</ns0:Num>
<ns0:LawSectionVersion id="id_CC0AAA52-8408-453F-BF8A-98F3E2490F6F">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
The commission shall develop policies, rules, or regulations with a goal of reducing, by January 1, 2024, the statewide level of gas and electric service disconnections for nonpayment by residential customers, including policies, rules, or regulations specific to the four gas and electrical corporations that have the greatest number of customers. The commission shall convene stakeholders, including, but not limited to, public health officials, consumer advocates, and organizations representing low-income communities, to assist with the development of the policies, rules, or regulations.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
(1)
<html:span class="EnSpace"/>
In each gas and electrical corporation general rate case, the commission shall do both of the following:
</html:p>
<html:p>
(A)
<html:span class="EnSpace"/>
Designate the impact of any proposed increase in rates on disconnections for nonpayment as an issue in the scope of the proceeding.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
Conduct an assessment of and properly identify the impact of any proposed increase in rates on disconnections for nonpayment, which shall be included in the record of the proceeding.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
The commission shall adopt residential utility disconnections for nonpayment as a metric and incorporate the metric into each gas and electrical corporation general rate case.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
The commission shall provide any public nonconfidential data collected pursuant to this section and Section 910.5 to the Office of Energy Infrastructure Safety for the purpose
of reviewing ratepayer affordability when assessing executive compensation pursuant to Section 8389.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_CF336CCD-9221-4EA4-B60C-477366EF63B1">
<ns0:Num>SEC. 5.</ns0:Num>
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Section 8389 of the
<ns0:DocName>Public Utilities Code</ns0:DocName>
is amended to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawSection id="id_AA74AA39-06EC-44A7-87C0-269348740D3C">
<ns0:Num>8389.</ns0:Num>
<ns0:LawSectionVersion id="id_AF462DAA-1F75-4ECA-8D50-6004BC87B749">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
For purposes of this section, the following definitions apply:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
“Board” means the California Wildfire Safety Advisory Board established pursuant to Section 326.1.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
“Division” means the Wildfire Safety Division established pursuant to Section 326.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
“Office” means the Office of Energy Infrastructure Safety, within the Natural Resources Agency.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
By June 30, 2020, and annually thereafter, the board shall make recommendations to the division on all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Appropriate performance metrics and processes for determining an electrical corporation’s compliance with its approved wildfire mitigation plan.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Appropriate requirements in addition to the requirements set forth in Section 8386 for the wildfire mitigation plan.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
The appropriate scope and process for assessing the safety culture of an electrical corporation.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
By October 31, 2020, and annually thereafter, the division shall issue an analysis and recommendation to the commission on the recommendations provided by the board pursuant to subdivision (b).
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
By December 1, 2020, and
annually thereafter, the commission, after consultation with the division, shall adopt and approve all of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
Performance metrics for electrical corporations.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Additional requirements for wildfire mitigation plans.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
A wildfire mitigation plan compliance process.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
A process for the division to conduct annual safety culture assessments for each electrical corporation.
</html:p>
<html:p>
(e)
<html:span class="EnSpace"/>
The Director of the Office of Energy Infrastructure Safety shall issue a safety certification to an electrical corporation if the electrical corporation provides documentation of the following:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
The electrical corporation has an approved wildfire mitigation plan.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
The electrical corporation is in good standing, which can be satisfied by the electrical corporation having agreed to implement the findings of its most recent safety culture assessment performed pursuant to Section 8386.2 and paragraph (4) of subdivision (d), if applicable.
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
The electrical corporation has established a safety committee of its board of directors composed of members with relevant safety experience.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
(A)
<html:span class="EnSpace"/>
The electrical corporation has established an executive incentive compensation structure approved by the division and structured to promote safety as a priority and to ensure public safety, ratepayer affordability, and utility financial stability with performance metrics, including incentive compensation based on meeting performance metrics that are measurable and enforceable, for all executive officers, as defined in Section 451.5. This may include tying 100 percent of incentive compensation to safety performance and denying all incentive compensation in the event the electrical
corporation causes a catastrophic wildfire that results in one or more fatalities.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
For purposes of subparagraph (A), “ratepayer affordability” requires review of data related to customer disconnections, arrears, and uncollectibles that the commission already collects pursuant to Sections 718 and 910.5 and proceedings implementing those sections.
</html:p>
<html:p>
(5)
<html:span class="EnSpace"/>
The electrical corporation has established board-of-director-level reporting to the commission and office on safety issues.
</html:p>
<html:p>
(6)
<html:span class="EnSpace"/>
(A)
<html:span class="EnSpace"/>
The electrical corporation has established a compensation structure for any new or amended contracts for executive officers, as defined
in Section 451.5, that is based on the following principles:
</html:p>
<html:p>
(i)
<html:span class="EnSpace"/>
(I)
<html:span class="EnSpace"/>
Strict limits on guaranteed cash compensation, with the primary portion of the executive officers’ compensation based on achievement of objective performance metrics.
</html:p>
<html:p>
(II)
<html:span class="EnSpace"/>
No guaranteed monetary incentives in the compensation structure.
</html:p>
<html:p>
(ii)
<html:span class="EnSpace"/>
It satisfies the compensation principles identified in paragraph (4).
</html:p>
<html:p>
(iii)
<html:span class="EnSpace"/>
A long-term structure that provides a significant portion of compensation, which may take the form of grants of the electrical corporation’s stock, based on the electrical corporation’s long-term performance and value. This compensation shall be held or
deferred for a period of at least three years.
</html:p>
<html:p>
(iv)
<html:span class="EnSpace"/>
Minimization or elimination of indirect or ancillary compensation that is not aligned with shareholder, ratepayer, and taxpayer interest in the electrical corporation.
</html:p>
<html:p>
(B)
<html:span class="EnSpace"/>
The division shall approve the compensation structure of an electrical corporation if it determines the structure meets the principles set forth in subparagraph (A) and paragraph (4).
</html:p>
<html:p>
(C)
<html:span class="EnSpace"/>
It is the intent of the Legislature, in enacting this paragraph and paragraph (4), that any approved bankruptcy reorganization plan
of an electrical corporation should, in regards to compensation for executive officers of the electrical corporation, comply with the requirements of those paragraphs.
</html:p>
<html:p>
(7)
<html:span class="EnSpace"/>
The electrical corporation is implementing its approved wildfire mitigation plan. The electrical corporation shall file a notification of implementation of its wildfire mitigation plan with the office and an information-only submittal with the commission on a quarterly basis that details the implementation of both its approved wildfire mitigation plan and recommendations of the most recent safety culture assessments by the commission and office, and a statement of the recommendations of the board of directors safety committee meetings that occurred during the quarter. The notification and information-only submittal shall also summarize the implementation of the safety
committee recommendations from the electrical corporation’s previous notification and submission. If the office has reason to doubt the veracity of the statements contained in the notification or information-only submittal, it shall perform an audit of the issue of concern. The electrical corporation shall provide a copy of the information-only submittal to the office.
</html:p>
<html:p>
(8)
<html:span class="EnSpace"/>
Documentation related to compensation shall include specified dollar amounts.
</html:p>
<html:p>
(f)
<html:span class="EnSpace"/>
(1)
<html:span class="EnSpace"/>
The office shall issue an initial safety certification within 30 days of receipt of a request for that certification by an electrical corporation if the electrical corporation provides documentation that it is meeting the requirements set forth in paragraphs (1), (2), (3), and (5) of subdivision (e). A
safety certification shall be valid for the 12 consecutive months following the issuance of the certification.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
Before the expiration of a certification, an electrical corporation shall submit to the division a request for certification for the following 12 months. The division shall issue a safety certification within 90 days of a request if the electrical corporation has provided documentation that it has satisfied the requirements in subdivision (e).
</html:p>
<html:p>
(3)
<html:span class="EnSpace"/>
All documents submitted pursuant to this section shall be publicly available on the commission’s internet website. Beginning July 1, 2021, all documents submitted pursuant to this section shall be publicly available on the office’s internet website. The commission is no longer responsible for posting this information as
of July 1, 2021; however, nothing in this section prevents the commission from posting this information.
</html:p>
<html:p>
(4)
<html:span class="EnSpace"/>
Notwithstanding paragraph (1), a safety certification shall remain valid until the division acts on the electrical corporation’s pending request for safety certification.
</html:p>
<html:p>
(g)
<html:span class="EnSpace"/>
If the division determines an electrical corporation is not in compliance with its approved wildfire mitigation plan, it may recommend that the commission pursue an enforcement action against the electrical corporation for noncompliance with its approved plan.
</html:p>
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</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_9285DCA8-2815-4611-8F99-1BA6BBFE64F6">
<ns0:Num>SEC. 6.</ns0:Num>
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Chapter 10 (commencing with Section 8450) is added to Division 4.1 of the
<ns0:DocName>Public Utilities Code</ns0:DocName>
, to read:
</ns0:ActionLine>
<ns0:Fragment>
<ns0:LawHeading id="id_73D72009-F2BB-442A-8E12-2F98DEE6F283" type="CHAPTER">
<ns0:Num>10.</ns0:Num>
<ns0:LawHeadingVersion id="id_EC73BB31-ECDC-484E-8E74-28E02F30ADA2">
<ns0:LawHeadingText>Utility Service Disconnections</ns0:LawHeadingText>
</ns0:LawHeadingVersion>
<ns0:LawSection id="id_31D5179F-8FBC-482C-A903-BD79F185F288">
<ns0:Num>8450.</ns0:Num>
<ns0:LawSectionVersion id="id_7D88DE4C-DAD0-46EB-A992-619875BDDC13">
<ns0:Content>
<html:p>For purposes of this chapter, all of the following definitions apply:</html:p>
<html:p>
(a)
<html:span class="EnSpace"/>
“Electrical corporation” has the same meaning as defined in Section 218.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
“Gas corporation” has the same meaning as defined in Section 222.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
“Local publicly owned electric utility” has the same meaning as defined in Section 224.3.
</html:p>
<html:p>
(d)
<html:span class="EnSpace"/>
“Utility” means an electrical corporation, local publicly owned electric utility, gas corporation, or local publicly owned gas utility.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
<ns0:LawSection id="id_AFF3E97D-4B0D-4AB3-BC3A-05BE47860810">
<ns0:Num>8451.</ns0:Num>
<ns0:LawSectionVersion id="id_75FB8C02-D7BA-4068-AC68-91334F3CDED8">
<ns0:Content>
<html:p>
(a)
<html:span class="EnSpace"/>
On or before March 1, 2026, as the annual data is submitted to the commission for the report required pursuant to Section 910.5, each electrical corporation and gas corporation shall annually post the following information for the
prior year concerning termination of service due to nonpayment on its internet website:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
The total number of customers terminated.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
The total number of customers reconnected.
</html:p>
<html:p>
(b)
<html:span class="EnSpace"/>
On or before March 1, 2027, each local publicly owned electric utility shall annually post the following information for the prior year concerning termination of service due to nonpayment on its internet website:
</html:p>
<html:p>
(1)
<html:span class="EnSpace"/>
The total number of customers terminated.
</html:p>
<html:p>
(2)
<html:span class="EnSpace"/>
The total number of customers reconnected.
</html:p>
<html:p>
(c)
<html:span class="EnSpace"/>
On or before July 1, 2026, each utility shall post its customer disconnection policies on its internet website.
</html:p>
</ns0:Content>
</ns0:LawSectionVersion>
</ns0:LawSection>
</ns0:LawHeading>
</ns0:Fragment>
</ns0:BillSection>
<ns0:BillSection id="id_9F02FFAA-C747-4985-8557-1088459EC077">
<ns0:Num>SEC. 7.</ns0:Num>
<ns0:Content>
<html:p>
No reimbursement is required by this act pursuant to Section 6 of Article XIII
<html:span class="ThinSpace"/>
B of the California Constitution because a local agency or school district has the authority to levy service charges, fees, or assessments sufficient to pay for the program or level of service mandated by this act or because costs that may be incurred by a local agency or school district will be incurred because this act creates a new crime or infraction, eliminates a crime or infraction, or changes the penalty for a crime or
infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIII
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B of the California Constitution.
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