CA AB3014

Establishes the California Reliability Authority as a nonprofit public benefit corporation overseen by a 5-member board appointed by the Governor with expertise in electrical reliability, with board members serving 3-year terms.

Requires the Authority, beginning January 1, 2022, to procure residual resource adequacy capacity through competitive solicitation to meet annual and monthly reliability needs for electrical corporation service territories on a 3-year forward basis.

Directs the Public Utilities Commission to establish by June 1, 2021 selection criteria for resource procurement that minimize costs while maintaining system reliability, promoting clean energy development, and equitably allocating costs among load-serving entities.

Specifies that costs incurred by the Authority are recovered through direct billing to load-serving entities, with procurement costs allocated based on each entity's load share of the collective resource adequacy requirement minus their own procured resources.

Requires annual public reporting on quantities procured, weighted average prices by product type and location, and submission of reports to the Legislature on the Authority's effectiveness and cost-effectiveness, with a comprehensive evaluation due by January 1, 2028.