(a) The commission, by May 1, 2010, and by each May 1 thereafter, shall prepare and submit a written report, separate from and in addition to the report required by Section 913, to the Governor and Legislature that contains all of the following:

1. (1) The commission’s recommendations for actions that can be undertaken during the succeeding 12 months to limit electrical corporations’ and gas corporations’ utility costs and rate increases.
2. (2) The commission’s recommendations that may take longer than 12 months to implement, but could lead to substantial reductions in monthly electricity and natural gas utility bills.
3. (3) Considerations of how the adoption of decarbonization policies, including electrification, may impact the total energy costs borne by consumers, including electricity, natural gas, and fuel for transportation, consistent with the state’s energy and environmental goals, including goals for reducing emissions of greenhouse gases.