CA AB2666

Requires the Public Utilities Commission to review actual costs against forecasted costs following each general rate case approval for electrical and gas corporations, and adjust authorized revenue requirements in subsequent rate cases based on actual past costs.

Mandates the commission establish guidelines for electrical and gas corporations to calculate and report their actual rates of return annually.

Requires the commission to adopt processes to track actual rates of return against forecasted rates of return and compel corporations to identify cost categories where projections differed from actual costs.

Preserves the commission's obligation to ensure rates are sufficient for corporations to recover just and reasonable revenue including a reasonable return.