Common use of Ratemaking Matters Clause in Contracts

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s 's Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s 's Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s 's capital structure and authorized XXX in PG&E’s 's annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “"A-” " or Xxxxx’x Xxxxx'x confers on PG&E a Company Credit Rating of at least “"A3,” " the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s 's capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s 's electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided ­provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s 's Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s 's Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s 's capital structure and authorized XXX in PG&E’s 's annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “"A-” " or Xxxxx’x Xxxxx'x confers on PG&E a Company Credit Rating of at least “"A3,” " the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s 's capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0Paragraph 6, XX&X PG&E agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s 's electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s 's Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s 's Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s 's capital structure and authorized XXX in PG&E’s 's annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “"A-” " or Xxxxx’x Xxxxx'x confers on PG&E a Company Credit Rating of at least “"A3,” " the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s 's capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X PG&E agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s 's electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided ­provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X PG&E agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating company credit rating of at least “A-” or Xxxxx’x confers on PG&E a Company Credit Rating company credit rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x Moody’s confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x Moody’s confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided ­provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX in PG&E’s annual cost of capital proceedings in its usual manner; provided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating of at least “A-” or Xxxxx’x confers on PG&E a Company Credit Rating of at least “A3,” the authorized XXX shall be no less than 11.22 percent per year and the authorized equity ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0, XX&X PG&E agrees not to pay any dividend on common stock before July 1, 2004. c. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.

Ratemaking Matters. a. The Commission agrees to maintain PG&E’s Retail Electric Rates at current levels through December 31, 2003. As of January 1, 2004, the Commission may adjust PG&E’s Retail Electric Rates prospectively consistent with this Agreement, the Settlement Plan, the Confirmation Order and California law. b. The Commission shall set PG&E’s capital structure and authorized XXX ROE in PG&E’s annual cost of capital proceedings in its usual manner; provided ðpxxxided that, from January 1, 2004 until either S&P confers on PG&E a Company Credit Rating company credit rating of at least “A-” or Xxxxx’x Moody’s confers on PG&E a Company Credit Rating company credit rating of at least “A3,” the authorized XXX auxxxxxxxd ROE shall be no less than 11.22 percent per year and the authorized equity equixx ratio for ratemaking purposes shall be no less than 52 percent, except for a transition period as provided below. The Commission recognizes that, at the Effective Date, PG&E’s capital structure will likely not contain 52 percent equity. Accordingly, for 2004 and 2005, the authorized equity ratio shall equal the Forecast Average Equity Ratio, but in no event shall it be less than 48.6 percent. Notwithstanding the provisions of Xxxxxxxxx 0Paragraph 6, XX&X PG&E agrees not to pay any dividend on common stock before July 1Xxxx 0, 20040000. c. x. Nothing in this Agreement shall be construed to create a rate freeze or rate cap for PG&E’s electric or gas business.