§ 824 Utility Proceeds Accounting Rules

• •Public utilities (like electric or water companies) must show where the money goes when they sell stocks or bonds.
• •The commission can make rules to make sure the money is used for what they said it would be used for.
• •The commission can ask for details about how the money was spent.

A water company sells bonds to raise money to fix old pipes.

The commission can ask the water company to show exactly how the money from selling those bonds was spent on fixing the pipes, and not on something else.