Investor-owned electric utilities; rate of return on common equity.

Rate of return for investor-owned electric utilities.Provides that the State Corporation Commission, in determininga fair rate of return on common equity for an investor-owned electricutility after July 1, 2020, shall not set such rate (i) lower thanthe average of the authorized returns on common equity that is setby the applicable regulatory commission for other investor-ownedelectric utilities in the utility's peer group or (ii) higher than150 basis points above such average. Under current law, the floorfor such rate of return on common equity is the average of the returnson common equity of the utility's peer group reported to the Securitiesand Exchange Commission for the three most recent annual periodsand the ceiling is 300 basis points above such average.