SB 905: Electricity.

The bill aims to reduce electricity costs for ratepayers by providing reimbursement to electrical corporations and local publicly owned electric utilities for expenditures driven by public policy goals. The policy-oriented and wildfire electric reimbursement program would require the energy commission to develop and implement the program, establish guidance and criteria for allocating reimbursements, and report to the legislature on utility bill impacts. The bill also requires the public utilities commission to assign a reduced return on equity for specified types of capital costs included in the electrical corporation's rate base and to initiate a proceeding to develop performance-based metrics for large electrical corporations. The commission must also establish targets for each performance metric and assess the performance of the electrical corporation against the targets. The bill r…