California Water Code

§ 80826

WAT § 80826 Effective Oct 7, 2023Div. 29.5 · Ch. 3

Statute text

(a)A local publicly owned electric utility that voluntarily participates in the department’s central procurement function pursuant to Section 80822 shall enter into an agreement with the department for the revenue requirement to fund its participation and that agreement shall have the force and effect of an irrevocable financing order.

(b)The agreement shall provide for the administration of the revenue requirement, including both of the following:

(1)A requirement that the department annually notify the local publicly owned electric utility of the annual collections received by the department with respect to the revenue requirement and the amount of any excess or deficiency in collections above or below the revenue requirement. The local publicly owned electric utility shall adjust charges in the subsequent year to reflect any such excess or deficiency.

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Legislative history

Added by Stats. 2023, Ch. 367, Sec. 15. (AB 1373) Effective October 7, 2023.