4. Discussion
The Commission has broad discretion under Pub. Util. Code §§ 583 and 701 to decide if information submitted to the Commission by public utilities should be available to the public.6 In exercising this discretion, Gov. Code § 6255(a) directs the Commission to consider whether "the public interest served by not disclosing the record clearly outweighs the public interest served by disclosure of the record."
The Commission's General Order (GO) 66-C explains how to obtain records in the Commission's possession. It also lists the types of documents not open to public scrutiny, including "[r]eports, records, and information requested or required by the Commission which, if revealed, would place the regulated company at an unfair business disadvantage."7 Public utilities submitting reports, records, and information to the Commission have the burden of demonstrating that such material should be shielded from disclosure.
We find that PG&E has met its burden to demonstrate that its 2007-2008 Winter Hedging Plan should remain under seal for three more years. We agree with PG&E that public disclosure of the 2007-2008 Winter Hedging Plan at this time would place PG&E at an unfair business disadvantage, since sophisticated traders of hedges could use the Plan to gain insight into PG&E's hedging strategy, including the timing and triggers for hedge acquisitions and liquidations. Traders could then use this information to front run PG&E, resulting in worse prices for PG&E and its customers.
We decline to grant PG&E's request for authority to seek an extension of the protective order granted by today's decision by filing a motion. We prefer that PG&E file an application for this purpose. PG&E should file the new application at least six months prior to the expiration of today's protective order so as to provide sufficient time for the Commission to review the application and issue a decision before the expiration of today's protective order.
We do not intend for PG&E's 2007-2008 Winter Hedging Plan to remain under seal in perpetuity. In order to achieve the fundamental goals of full public participation and regulatory transparency,8 we will require PG&E to justify in its next application, if one is filed, why its 2007-2008 Winter Hedging Plan needs to remain under seal more than six years after the Plan has expired. At some point the Plan will become obsolete and no longer eligible for confidential treatment. PG&E's application should identify when it expects that to occur.
6 D.06-06-066, as modified by D.07-05-032, Ordering Paragraph 1.
7 GO 66-C, Section 2.2.b.
8 Gov. Code § 6250 provides "that access to information concerning the conduct of the people's business is a fundamental and necessary right of every person in this state."
