Bill > AB1020

This bill requires investor-owned electrical and gas utilities to report detailed information about any taxpayer funding (such as grants, loans, or bonds) they apply for or receive. Utilities must provide quarterly reports to the California Public Utilities Commission (CPUC) that include specifics about funding sources, dollar amounts, spending plans, project details, and expected ratepayer benefits. The bill mandates that utilities disclose whether funding is for new or existing projects, how it will offset costs, and potential savings for customers. If a utility seeks ratepayer funding, they must also report all taxpayer funding they are pursuing. The CPUC is authorized to impose penalties for non-compliance and must require utilities to promptly deliver financial benefits from these funding sources to ratepayers, potentially by adjusting revenue requirements and rate applications. Additionally, the CPUC must provide an annual report to the Legislature summarizing the taxpayer funding information from each utility, including grant details and demonstrated ratepayer savings. The bill aims to increase transparency about alternative funding sources and ensure that customers benefit from these financial opportunities.

Budget and Finance, Transportation and Infrastructure

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB1020