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SB-549 Public Utilities Commission: rates: capital structure changes.(2019-2020)

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Date Published: 04/03/2019 09:00 PM
SB549:v98#DOCUMENT

Amended  IN  Senate  April 03, 2019

CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Senate Bill No. 549


Introduced by Senator Hill

February 22, 2019


An act to add Section 748 to the Public Utilities Code, relating to the Public Utilities Commission.


LEGISLATIVE COUNSEL'S DIGEST


SB 549, as amended, Hill. Public Utilities Commission: rates: capital structure changes.
Under existing law, the Public Utilities Commission has regulatory authority over public utilities, including electrical 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.
This bill would prohibit authorize the commission from approving any to approve a capital structure change or increase in rates for the Pacific Gas and Electric Company unless only upon the Legislature, by statute, authorizes approving the capital structure change or increase in rates.
This bill would make legislative findings and declarations as to the necessity of a special statute for the Pacific Gas and Electric Company.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.Section 748 is added to the Public Utilities Code, to read:
748.

The commission shall not approve any capital structure change or increase in rates for the Pacific Gas and Electric Company unless the Legislature, by statute, authorizes the capital structure change or increase in rates.

SECTION 1.

 Section 748 is added to the Public Utilities Code, to read:

748.
 Only upon the Legislature, by statute, approving a capital structure change or increase in rates for the Pacific Gas and Electric Company may the commission approve that capital structure change or increase in rates.

SEC. 2.

 The Legislature finds and declares that a special statute is necessary and that a general statute cannot be made applicable within the meaning of Section 16 of Article IV of the California Constitution because of the unique circumstances that Pacific Gas and Electric Company, as an electrical corporation with large outstanding liabilities, faces in balancing the public interests in increasing and sustaining the safety and reliability of its electrical service.