Hawaii · 2026 Regular Session
Clarifies that, for electric utilities, "performance-based incentives" include revenue adjustment mechanisms, cost control mechanisms, rewards for superior performance, and penalties for subpar performance. Authorizes the Public Utilities Commission to adopt alternative ratemaking procedures to establish electric utility rates and performance-based incentives. Requires the Commission to apply a presumption in favor of considering historical cost trends and external indices that reflect incentives to control costs if the Commission resets an electric utility's allowed revenues based on consideration of the utility's costs. Effective 7/1/3000. (HD1)
Passed Second Reading as amended in HD 1 and referred to the committee(s) on CPC with none voting aye with reservations; none voting no (0) and none excused (0). (2026-02-18)