5. Public Utilities Code Section 1904(b)

Whenever the Commission authorizes a utility to issue debt, the Commission is required to collect a fee in accordance with § 1904(b). Section 1904(b) states as follows:

For a certificate authorizing an issue of bonds, notes, or other evidences of indebtedness, two dollars ($2) for each one thousand dollars ($1,000) of the face value of the authorized issue or fraction thereof up to one million dollars ($1,000,000), one dollar ($1) for each one thousand dollars ($1,000) over one million dollars ($1,000,000) and up to ten million dollars ($10,000,000), and fifty cents ($0.50) for each one thousand dollars ($1,000) over ten million dollars ($10,000,000), with a minimum fee in any case of fifty dollars ($50). No fee need be paid on such portion of any such issue as may be used to guarantee, take over, refund, discharge, or retire any stock, bond, note or other evidence of indebtedness on which a fee has theretofore been paid to the commission. If the commission modified the amount of the issue requested in any case and the applicant thereupon elects not to avail itself of the commission's authorization, no fee shall be paid, and if such fee is paid prior to the issuance of such certificate by the commission, such fee shall be returned.

This decision authorizes PG&E to issue $4 billion in additional debt. The § 1904(b) fee applicable to $4 billion of debt is $2,006,000.¹⁸

We decline PG&E's request for a waiver of the § 1904(b) fee. We have no authority to waive the fee, which is mandated by statute. We also decline PG&E's alternate request to pay the § 1904(b) fee on pro rata basis as it issues the additional debt authorized by this decision. We do not wish to be burdened with the necessity of having to track how much of the § 1904(b) fee has been paid by PG&E and when. However, to alleviate any adverse effect the § 1904(b) fee may have on PG&E, we will allow PG&E a reasonable time to pay the fee to the Commission's Fiscal Office, not to exceed six months from the effective date of this decision. If necessary, PG&E may use the procedures set forth in Rule 48 to request an extension of time to pay the § 1904(b) fee. Any extension of time beyond six months will be subject to interest based on the 3-month commercial paper rate published in Federal Reserve Statistical Release G.13, retroactive to the effective date of this decision. Failure by PG&E to remit the fee shall render void all authority granted by this decision.