Public Utilities Commission: audits and reviews.
AB 1072 aims to enhance regulatory oversight of public utilities in California, aiming for improved transparency and accountability. By requiring these audits and reviews to be executed with applicable auditing standards in a timely manner, the bill seeks to ensure that the PUC maintains stringent oversight over utility operations and compliance. Furthermore, it requires the commission to publish their audit manual and any updates to ensure the public is informed of auditing practices.
Assembly Bill 1072, introduced by Patterson, facilitates the auditing and review processes for public utilities regulated by the Public Utilities Commission (PUC). The bill amends Sections 314.5 and 314.6 of the Public Utilities Code, mandating that the PUC audit the books and records of utilities serving over 10,000 customers at least every three years, while those serving fewer than 10,000 customers will be reviewed every five years. This adjustment transitions the focus from regulatory and tax purposes to strictly regulatory purposes for these audits and reviews.
The general sentiment surrounding AB 1072 appears to be supportive, highlighting the necessity for regulatory frameworks that enhance accountability within the utility sector. Policymakers and stakeholders agreed on the importance of having consistent audits to protect consumer interests while ensuring that utilities adhere to operational standards and regulations.
While significant support exists for AB 1072, some concerns have been raised regarding the potential for increased regulatory burdens on smaller utilities that may not have the resources to comply with more stringent audit requirements. Balancing the need for oversight with operational flexibility for these smaller entities could be a point of contention in the ongoing discourse around public utility regulations.