Establishes an automatic adjustment mechanism for water carriers to address inflation and other economic factors.

This bill amends Hawaii Revised Statutes to allow the Public Utilities Commission to establish automatic adjustment mechanisms for water carriers. These mechanisms will address inflation, regulatory lag, and other economic factors. The commission must establish a water carrier inflationary cost index automatic adjustment mechanism by July 1, 2026. The mechanism will reflect the annual percentage change in the increase of wharfage rates set by the Department of Transportation.

Establishes an automatic adjustment mechanism for water carriers to address inflation and other economic factors.

This bill amends Hawaii Revised Statutes to allow the Public Utilities Commission to establish automatic adjustment mechanisms for water carriers. These mechanisms will address inflation, regulatory lag, and other economic factors. The commission must establish a water carrier inflationary cost index automatic adjustment mechanism by July 1, 2026. The mechanism will reflect the annual percentage change in the increase of wharfage rates set by the Department of Transportation.