Section 728.1 Of Article 2. Rates From California Public Utilities Code >> Division 1. >> Part 1. >> Chapter 4. >> Article 2.
728.1
. (a) For purposes of this section, "plant held for future use
account" means account number 105 of the Uniform System of Accounts
Prescribed for Public Utilities and Licensees, as adopted by the
commission.
(b) The commission shall review the status of all property owned
by a gas or electrical corporation and held within the plant held for
future use account at least once every three years or during a
proceeding conducted pursuant to Section 728, for the purpose of
determining and fixing the rates of that gas or electrical
corporation, as determined by the commission.
(c) If a gas or electrical corporation sells property which was
carried within the plant held for future use account and which was
included in determining the rates of the corporation, the commission
shall determine what portion of any gains from the sale shall be
allocated to the customers of the corporation in a manner consistent
with the procedures specified in account number 105 of the Uniform
System of Accounts Prescribed for Public Utilities and Licensees. The
portion of the gains allocated to customers shall not be less than
the amount the corporation has recovered through rates for the
carrying costs and other expenses of the property during the period
it was carried in the plant held for future use, and shall not exceed
the gain on the sale, net of any tax, resulting from the sale.