california update 7 / 26 / 01 p . 3 below are the current provisions keeley and hertzberg are wanting to pass into legislation ( when they return from recess ) . currently , they are not sure if all of these amendments would be wrapped up into one bill or if they would just amend bill sb 78 xx while introducing a new bill sb _ xx . working under the assumption that they would amend bill 78 xx and introduce a new one , the following issues are a reflection of their current positions . if they decide to introduce one new bill than the issues below would be included into one piece of legislation . please remember , these issues are only their current thoughts and are such to change .
socal debt
sb _ xx
no provision for debt .
sb 78 xx ( amended )
approximately $ 2 . 9 b through corporate bond financing supported by a dedicated rate component ( drc ) over a period of time sufficient to pay the bonds ( 10 - 15 years ) . final debt amount to be established by the puc and the state auditor .
core vs . non - core
sb _ xx
for purposes of paying the socal debt , creates a core program for consumers with a peak demand of less than ? kw and non - core customers of ? kw or more . they would share in the cost of socal debt retirement : ( 1 ) all consumers share pro rata for the first two years , ( 2 ) non - core pay 100 % after two years .
sb 78 xx ( amended )
no provisions .
transmission system purchase
sb _ xx and sb 78 xx
no purchase of transmission assets .
conservation easements
sb _ xx
no conservation easements .
sb 78 xx ( amended )
specific conservation easements and other land arrangements described in bill for about 24 , 000 acres per the governor ' s mou .
direct access
sb _ xx
removes regulatory constraints on a direct access program effective january 1 , 2002 and permits customers to buy power if there is a net short after socal native generation , bilateral contracts , and dwr contracts . residential and small commercial customers may use direct access from renewable energy sources .
sb 78 xx ( amended )
no provisions for direct access .
ratepayer benefit account
sb _ xx
deposits in the account any refunds or net cash resulting from ( a ) any refunds ordered by ferc or from litigation , and ( b ) any positive dwr power fund revenues ; all to be refunded to ratepayers through either bill credits or rate reductions in proportion to the march , 2001 puc rate increase .
sb 78 xx ( amended )
does not create a ratepayer benefit account .
electric supplier claims settlement trust
sb _ xx and sb 78 xx
does not create a trust or trustee to negotiate reductions .
renewable energy
sb _ xx
creates a renewable portfolio standard ( rps ) to achieve a target of 10 % of all new generating capacity additions through 2010 and overall 20 % of statewide total generating capacity by 2010 . munis have been exempted from the rps .
sb 78 xx ( amended )
no provisions for renewable energy .
california update 7 / 26 / 01 p . 3
below are the current provisions keeley and hertzberg are wanting to pass into legislation ( when they return from recess ) . currently , they are not sure if all of these amendments would be wrapped up into one bill or if they would just amend bill sb 78 xx while introducing a new bill sb _ xx . working under the assumption that they would amend bill 78 xx and introduce a new one , the following issues are a reflection of their current positions . if they decide to introduce one new bill than the issues below would be included into one piece of legislation . please remember , these issues are only their current thoughts and are such to change .
socal debt
sb _ xx
no provision for debt .
sb 78 xx ( amended )
approximately $ 2 . 9 b through corporate bond financing supported by a dedicated rate component ( drc ) over a period of time sufficient to pay the bonds ( 10 - 15 years ) . final debt amount to be established by the puc and the state auditor .
core vs . non - core
sb _ xx
for purposes of paying the socal debt , creates a core program for consumers with a peak demand of less than ? kw and non - core customers of ? kw or more . they would share in the cost of socal debt retirement : ( 1 ) all consumers share pro rata for the first two years , ( 2 ) non - core pay 100 % after two years .
sb 78 xx ( amended )
no provisions .
transmission system purchase
sb _ xx and sb 78 xx
no purchase of transmission assets .
conservation easements
sb _ xx
no conservation easements .
sb 78 xx ( amended )
specific conservation easements and other land arrangements described in bill for about 24 , 000 acres per the governor ' s mou .
direct access
sb _ xx
removes regulatory constraints on a direct access program effective january 1 , 2002 and permits customers to buy power if there is a net short after socal native generation , bilateral contracts , and dwr contracts . residential and small commercial customers may use direct access from renewable energy sources .
sb 78 xx ( amended )
no provisions for direct access .
ratepayer benefit account
sb _ xx
deposits in the account any refunds or net cash resulting from ( a ) any refunds ordered by ferc or from litigation , and ( b ) any positive dwr power fund revenues ; all to be refunded to ratepayers through either bill credits or rate reductions in proportion to the march , 2001 puc rate increase .
sb 78 xx ( amended )
does not create a ratepayer benefit account .
electric supplier claims settlement trust
sb _ xx and sb 78 xx
does not create a trust or trustee to negotiate reductions .
renewable energy
sb _ xx
creates a renewable portfolio standard ( rps ) to achieve a target of 10 % of all new generating capacity additions through 2010 and overall 20 % of statewide total generating capacity by 2010 . munis have been exempted from the rps .
sb 78 xx ( amended )
no provisions for renewable energy .