Whenever an electric or gas corporation sells fuel oil which is, or is reasonably expected to be, useful in the performance of its public utility function, at a price higher than the electric or gas corporation’s purchase cost, the commission shall, in any rate proceeding, require that the amount higher than the purchase cost be credited with interest against the expense claimed by the electric or gas corporation.
Cal. Pub. Util. Code § 775
Equipment, Practices, and Facilities
Known as the Public Utilities Act
The act spans §§ 201–2120 (1,026 sections).
Added by Stats. 1976, Ch. 1360.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.