Date Set for Public Adoption Meeting
Sacramento – The Office of Energy Infrastructure Safety (Energy Safety) today released its Draft 2024 Executive Compensation Structure Submission Guidelines for public comment. Opening comments must be received by Nov. 17. Reply comments must be received by Nov. 27. Comments and reply comments must be submitted to the 2024 Executive Compensation docket (#2024-EC) via Energy Safety’s e-filing system.
A public adoption meeting for the guidelines is scheduled for Dec. 7, during which public comment will also be accepted. The adoption meeting will be remote attendance only.
The guidelines assist electrical corporations in meeting statutory criteria for their executive compensation structures. Energy Safety does not set or approve the actual salaries for the corporations’ executives. An approved executive compensation structure is a requirement for safety certification. The certification is designed to encourage electrical corporations to invest in safety and improve safety culture to limit wildfire risks and reduce costs. An electrical corporation with a safety certification is presumed to have acted reasonably in proceedings before the CPUC to recover costs of a utility-caused wildfire.