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Cal. Pub. Util. Code § 314.5

The Public Utilities Commission: Organization

Redline — January 1, 2019 → current.View current text →
Current — January 1, 2021
As of January 1, 2019
(a) (1) The commission shall apply a risk-based methodology to conduct audits or reviews of the books and records of electrical, gas, telephone, water, and sewer corporations.
(a) (1) The commission shall audit the books and records for regulatory purposes of every electrical, gas, heat, telegraph, telephone, and water corporation serving over 10,000 customers at least once every three years or in accordance with the commission-approved general rate case cycle, if that cycle provides for a rate case no less frequently than once every five years.
(2) The commission shall conduct a review or audit of the books and records of every electrical or gas corporation at least once every five years.
(2) The commission shall review or audit the books and records for regulatory purposes of every electrical, gas, heat, telegraph, telephone, and water corporation serving 10,000 or fewer customers at least once every five years.
(3) The commission shall conduct an audit or review of the books and records of every high-risk telephone, water, or sewer corporation, as determined by the commission, during the regular regulatory review of those entities, at least once every 10 years.
(b) An audit conducted in connection with a rate proceeding shall be deemed to fulfill the requirements of paragraph (1) of subdivision (a), and a review or audit conducted in connection with a rate proceeding shall be deemed to fulfill the requirements of paragraph (2) of subdivision (a).
(b) An audit or review conducted pursuant to Section 274 or 792.5 shall be deemed to fulfill the requirements of subdivision (a).
(c) The commission shall post reports of reviews and audits and other pertinent information on its internet website.
(c) The commission shall post reports of reviews and audits and other pertinent information on its internet website.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.