Clarifies and guides the Public Utilities Commission to uphold performance-based regulation for electric utilities.

The bill aims to ensure the Public Utilities Commission adheres to performance-based regulation for electric utilities, as mandated by the Hawaii Ratepayer Protection Act. It emphasizes the importance of a customer-centric approach, administrative efficiency, and utility financial integrity. The bill clarifies that performance-based incentives include revenue adjustment mechanisms, cost control mechanisms, rewards for superior performance, and penalties for subpar performance.

Clarifies and guides the Public Utilities Commission to uphold performance-based regulation for electric utilities.

The bill aims to ensure the Public Utilities Commission adheres to performance-based regulation for electric utilities, as mandated by the Hawaii Ratepayer Protection Act. It emphasizes the importance of a customer-centric approach, administrative efficiency, and utility financial integrity. The bill clarifies that performance-based incentives include revenue adjustment mechanisms, cost control mechanisms, rewards for superior performance, and penalties for subpar performance.