California AB99 regulates electrical corporations' rate increases, requiring customer approval for hikes above inflation.

California AB99 mandates that electrical corporations cannot propose rate increases above the inflation rate without customer approval. Customers must vote on any proposed increase, and the corporation can propose multiple plans until one gains majority support. The California Public Utilities Commission oversees this process, setting interim rates not exceeding inflation until a plan is approved. The cost of conducting the election is borne by the corporation's shareholders.

California AB99 regulates electrical corporations' rate increases, requiring customer approval for hikes above inflation.

California AB99 mandates that electrical corporations cannot propose rate increases above the inflation rate without customer approval. Customers must vote on any proposed increase, and the corporation can propose multiple plans until one gains majority support. The California Public Utilities Commission oversees this process, setting interim rates not exceeding inflation until a plan is approved. The cost of conducting the election is borne by the corporation's shareholders.