SB 473: Water corporations: demand elasticity: rates and surcharges.

This bill aims to amend existing laws regarding water corporations in California. The Public Utilities Commission will have more authority to regulate water corporations, ensuring they do not overcharge or undercharge customers due to errors in estimating demand elasticity or sales. The commission will need to consider conservation programs and ensure that any rate changes or surcharges do not result in excessive revenue. Violating the commission's requirements will be a crime, and local agencies will not be required to reimburse the state for the costs of implementing this bill.