California Public Utilities Code 454.8 – In any decision establishing rates for an electrical or gas …
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In any decision establishing rates for an electrical or gas corporation reflecting the reasonable and prudent costs of the new construction of any addition to or extension of the corporation’s plant, when the commission has found and determined that the addition or extension is used and useful, the commission shall consider a method for the recovery of these costs which would be constant in real economic terms over the useful life of the facilities, so that ratepayers in a given year will not pay for the benefits received in other years.
(Added by Stats. 1985, Ch. 926, Sec. 1.)
Terms Used In California Public Utilities Code 454.8
- Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.