Committee advances bill requiring utilities to disclose 10‑year returns in rate cases

The Senate Committee on Energy, Utilities and Communications voted to pass AB 1017, a transparency measure for investor‑owned utilities (IOUs), to the Senate Appropriations Committee by a recorded vote of 14-0.

Assemblymember Burner, the author, told the committee that one of the largest contributors to rising residential utility rates is IOU profits on capital expenditures, including distribution projects. AB 1017 would require an IOU, as part of its general rate case filing, to provide the California Public Utilities Commission (CPUC) and intervenors with information including the authorized and actual rate of return and return on equity for the prior 10 years and details on distribution capacity projects, including forecasts submitted in the prior general rate case.

The author described the bill as a transparency measure to help ratepayer advocates and policymakers better assess how returns and capital projects affect rates. Committee members voiced support for more data to inform public hearings and oversight; Senator Caballero said the measure will be helpful to constituents concerned about utility price increases. There were no witnesses in opposition on the record.

Motion and vote: The motion to pass AB 1017 to the Senate Appropriations Committee was made by Senator Caballero. The committee recorded a final vote of 14 yes, 0 no. The bill will proceed to the Appropriations Committee where fiscal implications and any budget‑related amendments will be considered.

If enacted, the bill would change the disclosure requirements in CPUC rate proceedings and provide intervenors with expanded access to historical utility financial performance data.