Energy: rates: expenses for research and development.

Under existing law, the Public Utilities Commission has regulatory authority over public utilities, including electrical corporations and gas corporations, as defined. Existing law authorizes the commission to fix the rates and charges for every public utility, and requires that those rates and charges be just and reasonable. For purposes of setting the rates to be charged by every electrical corporation, gas corporation, heat corporation, or telephone corporation, existing law authorizes the commission to allow for the inclusion of expenses for research and development. This bill would make a nonsubstantive change to this provision.