AB 1273: Public utilities: ratesetting proceedings: local publicly owned electric utilities: California Renewables Portfolio Standard Program.

The bill aims to regulate public utilities in California, specifically local publicly owned electric utilities. It would prohibit the Public Utilities Commission from considering rate increases that exceed $1,000,000,000 unless the utility consents to the increase. Additionally, the bill would require the commission to provide a public comment period of at least 30 minutes before voting on rate increases of more than 5% for customers of utilities with revenue requirements above $1,000,000,000. The bill also extends the California Renewables Portfolio Standard Program to ensure local utilities continue to meet their renewable energy procurement requirements.