AB 189, as introduced, Buchanan. Energy: solar energy systems: funding.
Under existing law, the Public Utilities Commission (PUC) has regulatory authority over public utilities, including electrical corporations. Decisions of the PUC adopted the California Solar Initiative. Existing law requires the commission, before collecting additional ratepayer funds to fund certain program shortfalls, to first allocate interest accumulated from customer collections and, for the remainder of the shortfall, to increase collections from customers of the state’s 3 largest electrical corporations for specified programs.
This bill would make technical, nonsubstantive changes to the latter provision.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 2851.1 of the Public Utilities Code is
2amended to read:
(a) As used in thisbegin delete section,“discount rate”end deletebegin insert section end insert
4begin insert“discount rateend insertbegin insert”end insert means a financial mechanism that provides a given
P2 1amount of interest as an offset to the loss of the time value of
2money on solar projects that receive performance-based incentives
3under Section 2851.
4(b) Before collecting additional ratepayer funds to fund program
5shortfalls identified for incentive step levels 8, 9, and 10 for
6nonresidential solar photovoltaic systems, the commission shall
7first
allocate interest accumulated from customer collections and,
8for the remainder of the shortfall, increase collections from
9customers of San Diego Gas and Electric Company, Southern
10California Edison Company, and Pacific Gas and Electric Company
11forbegin insert
theend insert programs described in paragraph (1) of subdivision (e) of
12Section 2851.
13(c) The discount rate shall be set at 4 percent, unless the
14commission determines the rate should be reduced.
O
99