AB 2710: Public utilities: electrical and gas corporations: financial distress: reporting.

Official summary

Legislative Counsel’s Digest (official, as of the latest version). Written by nonpartisan legislative staff; reproduced verbatim.

Existing law vests the Public Utilities Commission with regulatory authority over public utilities, including electrical corporations and gas corporations.

This bill would require an electrical corporation or gas corporation to submit a financial condition report to the Legislature, as provided, if the corporation’s credit rating reaches a near-distress rating level, as defined, or if the commission issues a cost-of-capital decision, as defined, affecting the corporation. The bill would specify information required to be included in the report, including information determined by the commission to be relevant to the Legislature’s understanding of the corporation’s financial condition.

Under existing law, a violation of the Public Utilities Act or an order, decision, rule, direction, demand, or requirement of the commission is a crime.

Because the above provisions would be part of the act and a violation of a commission action implementing the bill’s requirements would be a crime, this bill would impose a state-mandated local program.

The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.

This bill would provide that no reimbursement is required by this act for a specified reason.

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. May 14, 2026In committee: Held under submission.
2. May 14, 2026Joint Rule 62(a), file notice suspended. (Page 5030.)
3. May 13, 2026In committee: Set, first hearing. Referred to APPR. suspense file.
4. April 23, 2026From committee: Do pass and re-refer to Com. on APPR. (Ayes 13. Noes 3.) (April 22). Re-referred to Com. on APPR.
5. April 20, 2026Re-referred to Com. on U. & E.
6. April 16, 2026From committee chair, with author's amendments: Amend, and re-refer to Com. on U. & E. Read second time and amended.
7. March 23, 2026Re-referred to Com. on U. & E.
8. March 19, 2026From committee chair, with author's amendments: Amend, and re-refer to Com. on U. & E. Read second time and amended.
9. March 19, 2026Referred to Com. on U. & E.
10. February 21, 2026From printer. May be heard in committee March 23.
11. February 20, 2026Read first time. To print.