Bill > AB2700

This bill requires the Public Utilities Commission (PUC), an agency that regulates electricity providers, to produce two reports by January 1, 2028. The first report must outline recommendations to reduce the cost of electricity per kilowatt-hour for consumers by at least 30%. To achieve this, the PUC will review and evaluate the cost-effectiveness of various "public purpose programs" (programs funded through electricity rates for specific societal benefits) and audit the costs electrical corporations (utility companies) claim for wildfire prevention efforts, recommending rate reductions if those costs are deemed unreasonable. The second report will assess the total amount of money still owed to victims of wildfires caused by electrical corporations before July 12, 2019, and propose ways for these corporations to cover these "restitution shortfalls" without allowing them to recover these costs directly from ratepayers, aiming for fair victim compensation while maintaining stable electricity prices.