This bill would require the commission, through a new or existing proceeding, to develop optional dynamic rate tariffs applicable to each large electrical corporation for the large electrical corporation’s customers. The bill would require at least one optional dynamic rate tariff for each segment of medium and large commercial and industrial customers no later than on or before July 1, 2028, and at least one optional dynamic rate tariff for each segment of residential and small commercial customers no later than on or before July 1, 2030. The bill would require each optional dynamic rate tariff to include, at minimum, specified components, including a time-varying transmission and distribution rates rate that reflect reflects dynamic grid constraints constraints, a time-varying generation rate that reflects wholesale market conditions, and nonbypassable charges, as specified. The bill would require the commission to ensure, among other things, any overcollection of transmission-, distribution-, and generation-related revenue requirements from participating bundled customers is returned to the participating bundled customers and any undercollection of those revenue requirements is borne by those same customers. The bill would additionally require that any overcollection of transmission- or distribution-related revenue requirements from unbundled customers be returned to the same unbundled customers, and any undercollection of those revenue requirements be borne by those same customers. The bill would require that any customer of an electrical corporation with an installed smart meter who chooses to take service under an optional dynamic rate tariff be provided access to their own interval usage data directly from the smart meter as that data is generated, as provided. The bill would also require the commission to determine whether each large electrical corporation would be required to allow medium and large commercial and industrial customers taking service under an optional dynamic rate tariff to also participate in supply-side resource demand response programs, as provided. The bill would require that any new medium and large commercial and industrial customer energized on or after July 1, 2028, that opts to take service under an optional dynamic rate tariff be eligible to receive generation service from an electric service provider, if specified conditions are met. The bill would require the commission to consider rules or conditions on participation by vulnerable residential customers to ensure adequate protection for those customers, as provided. The bill would require the commission to incorporate the load shift and load reduction effects of dynamic rate adoption in proceedings on revenue requirement cost recovery, as provided. The bill would require the commission to ensure load-serving entities provide adequate electricity bill comparison information to residential and small business customers interested in taking service under an optional dynamic rate tariff.