Electricity Oversight Board.

Existing law establishes the Electricity Oversight Board to oversee the Independent System Operator and the Power Exchange in order to ensure the success of electric industry restructuring and to ensure a reliable supply of electricity in the transition to a new market structure. This bill would repeal those provisions, and make various conforming changes. Existing law, until January 1, 2013, requires the Attorney General to represent the Department of Finance and to succeed to all rights, claims, powers, and entitlements of the Electricity Oversight Board in any litigation or settlement to obtain ratepayer recovery for the effects of the 2000–02 energy crisis. Existing law additionally prohibits the Attorney General from expending the proceeds of any settlements of those claims, except as specified. This bill would delete the repeal date of January 1, 2013, thereby making these provisions operative indefinitely.