[Approved by Governor August 7, 2015. Filed with Secretary of State August 7, 2015.]
AB 1525, Committee on Utilities and Commerce. Electrical restructuring.
Existing law, enacted as part of electrical restructuring, required the Public Utilities Commission to authorize an electrical corporation meeting specified conditions to implement a rate cap mechanism that included a fuel price index mechanism to ensure the continued safe and reliable provision of electric service during the transition to competition and to limit the effect of fuel price volatility in electric rates paid by consumers. This requirement became inoperative on December 31, 2001.
This bill would repeal the above-described requirement.
The people of the State of California do enact as follows:
Section 397 of the Public Utilities Code is repealed.
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