Existing law gives the Public Utilities Commission regulatory authority over public utilities, including electrical corporations, and requires them to set just and reasonable rates. Electrical corporations must identify a separate rate component for programs that enhance system reliability and provide in-state benefits. This bill would require the commission to develop optional dynamic rate tariffs for large electrical corporations, applicable to commercial, industrial, and residential customers by specified dates. These tariffs must include dynamic transmission and distribution rates reflecting real-time grid conditions and certain nonbypassable charges. The bill also mandates that any overcollection or undercollection of transmission- or distribution-related revenue from participating customers be addressed by returning overcollections and assigning undercollections to the same customers.