CA AB3263

Expands the use of financing orders by electrical corporations to recover costs related to wildfire mitigation efforts, operational and maintenance expenses, vegetation management costs, and expenses from federal or state emergency declarations, in addition to catastrophic wildfire costs.

Authorizes large electrical corporations to issue recovery bonds for vegetation management expenses up to $10 billion multiplied by the Wildfire Fund allocation metric, with an average repayment period not exceeding 15 years.

Allows costs to be recovered through fixed recovery charges that are nonbypassable rates applied to customer bills, with the commission required to expeditiously approve periodic adjustments to ensure full recovery.

Limits the applicability of these expanded financing order provisions to costs incurred before December 31, 2035.

Establishes procedures for the commission to ensure costs included in financing orders are just and reasonable, with the ability to assign cost recovery to customer classes based on their contribution to undercollections.