Section 360.5 Of Article 6. Requirements For The Public Utilities Commission From California Public Utilities Code >> Division 1. >> Part 1. >> Chapter 2.3. >> Article 6.
360.5
. The commission shall determine that portion of each existing
electrical corporation's retail rate effective on January 5, 2001,
that is equal to the difference between the generation related
component of the retail rate and the sum of the costs of the utility'
s own generation, qualifying facility contracts, existing bilateral
contracts, and ancillary services. That portion of the retail rate
shall be known as the California Procurement Adjustment. The
commission shall further determine the amount of the California
Procurement Adjustment that is allocable to the power sold by the
department. That amount shall be payable, by each electrical
corporation, upon receipt by the electrical corporation of the
revenues from its retail end use customers, to the department for
deposit in the Department of Water Resources Electric Power Fund,
established by Section 80200 of the Water Code. The amount determined
pursuant to this subdivision shall be known as the Fixed Department
of Water Resources Set-Aside.