IX. Annual Updating

We currently update hourly rates annually on a calendar year basis. We solicited comments in this proceeding on whether to change to a fiscal year basis since the affected utilities annually report compensation data (pursuant to General Order 77-M) at the end of April. Considering we have most recently used Social Security Administration COLA data which is annually released at the end of the calendar year, and in view of comments, we will continue to update hourly rates on a calendar year basis.