5. Fees

Whenever the Commission authorizes a utility to issue debt and preferred stock, the Commission is required to charge and collect a fee in accordance with Sections 1904(b) and 1904.1, which provide, in relevant part, as follows:

Section 1904(b): 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. (Emphasis added.)

Section 1904.1: The commission shall also charge and collect a fee for a certificate authorizing an issue of stock, which fee shall be computed at the rates set forth in subdivision (b) of Section 1904 and determined by the commission upon the basis of the proposed maximum proceeds. No fee shall 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. (Emphasis added.)

The following table shows the calculation of the fee that PG&E is required to pay pursuant to Sections 1904(b) and 1904.1 for the debt and preferred stock authorized by today's Opinion:

PG&E shall remit the required fee of $754,000 to the Commission's Fiscal Office. The authority granted by today's Opinion shall not become effective until PG&E has paid the required fee.