6. Fee
Whenever the Commission authorizes a utility to issue debt and preferred stock, the Commission is required to charge and collect a fee pursuant to Pub. Util. Code ยงยง 1904(b) and 1904.1. Sections 1904(b) and 1904.1 are not applicable to any issue used to guarantee, take over, refund, discharge, or retire any stock, bond, note, or other evidence of indebtedness on which a fee has previously been paid to the Commission. Therefore, PG&E should pay a fee on just $3.15 billion of the new financing authorized herein. PG&E should not pay a fee on the $1.6 billion that will be used to retire/refund/re-issue previously authorized securities. If PG&E intends to use any of the $1.6 billion for purposes other than the retirement/refund/re-issue of indebtedness previously issued, it shall notify the Commission and pay the corresponding fee before making such use, and identify in its next securities report after issuance how it used the $1.6 billion of new financing authority earmarked to replace existing long-term debt.
PG&E must remit the required $1,581,000 fee to the Commission's Fiscal Office. The authority granted by this order shall not become effective until PG&E remits the $1,581,000 fee to the Commission's Fiscal Office.
Table 2
Calculation of Fee
Amount of Securities |
Rate per $1,000 of Proposed Securities |
Total Fee |
$1,000,000 |
$2 |
$2,000 |
$9,000,000 |
$1 |
$9,000 |
$3,140,000,000 |
$0.50 |
$1,570,000 |
TOTAL FEE |
$1,581,000 | |
