7. General Order 24-B

General Order (GO) 24-B requires utilities to submit a monthly report to the Commission that contains, among other things, the following information: (1) the amount of debt issued by the utility during the previous month; (2) the total amount of debt outstanding at the end of the prior month; (3) the purposes for which the utility expended the proceeds from debt issued during the prior month; and (4) a monthly statement of the separate bank account that the utility is required to maintain for all receipts and disbursements of money obtained from the issuance of debt. We conclude that GO 24-B applies to the Energy Recovery Bonds, as there is no exemption from GO 24-B authorized by SB 772.

In recent years the Commission has routinely authorized utilities to report on a quarterly basis the information required by GO 24-B in order to reduce the utilities' administrative and compliance costs.⁸⁴ Therefore, consistent with Commission practice, we will authorize PG&E, on behalf of the SPE, to report on a quarterly basis all information required by GO 24-B regarding the Energy Recovery Bonds. However, PG&E shall report this information on a monthly basis if directed to do so by Commission staff.

⁸⁴ See, for example, D.04-04-041, OP 5; D.04-01-009, OP 11; D.03-12-052, OP 6; D.03-12-004, OP 13; D.03-11-018, OP 13; and D.03-09-020, OP 6.