California · Public Utilities Code - PUC
PUC §456: Nothing in this part shall be construed to prohibit any public utility from profiting, to the extent permitted by the commission, from any economies, efficiencies, or improvements which it may make, a
What this law says, in plain English
Public utilities may profit from cost savings, efficiencies, or improvements to the extent the commission allows.
Read the full statutory text
Nothing in this part shall be construed to prohibit any public utility from profiting, to the extent permitted by the commission, from any economies, efficiencies, or improvements which it may make, and from distributing by way of dividends, or otherwise disposing of, such profits. The commission may make or permit such arrangement with any public utility as it deems wise for the purpose of encouraging economies, efficiencies, or improvements and securing the public utility making them such portion of the profits thereof as the commission determines.
Verify at the official source: California legislative text
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