Relating to the procedure for a periodic rate adjustment by an electric utility.

SB 1438 modifies how Texas electric utilities adjust nonfuel rates based on changes to their distribution infrastructure investments. It requires the Public Utility Commission to approve these adjustments within 90 days (with a possible 15-day extension), ensuring the process includes public input and considers customer count and weather-normalized energy usage patterns. Utilities must also submit sworn statements confirming compliance with the new rate schedule. This bill directly affects electric utilities (like Oncor or TXU) and the Public Utility Commission by changing the procedural rules for rate adjustments, not the rates themselves.