SB897: Relating To Energy.

Legislative Summary

Allows electric cooperatives to recover wildfire mitigation, repair, and restoration costs through an automatic rate adjustment or other mechanism. Requires the Public Utilities Commission to initiate a proceeding for the adoption of rules, subject to the Governor's approval, to determine an aggregate limit for liability for economic damages from a covered catastrophic wildfire. Authorizes securitization of certain costs for electric utilities. Requires the Public Utilities Commission to conduct studies on whether the framework established in the measure adequately balances electric utility interests and compensation owed to catastrophic wildfire victims and on the establishment and implementation of a wildfire recovery fund and report its findings and recommendations to the Legislature. Appropriates moneys. (CD1)