SB2694 amends Hawaii water carrier regulations to establish automatic adjustment mechanisms for addressing inflation and other economic factors.

SB2694 amends Hawaii water carrier regulations by allowing the commission to establish automatic adjustment mechanisms for water carriers to address inflation, regulatory lag, and other economic factors. These mechanisms can be initiated by the commission or proposed by the carrier. The bill also mandates that the commission establish a water carrier inflationary cost index automatic adjustment mechanism by July 1, 2026, which will be applied annually for the first two years and every three years thereafter.

SB2694 amends Hawaii water carrier regulations to establish automatic adjustment mechanisms for addressing inflation and other economic factors.

SB2694 amends Hawaii water carrier regulations by allowing the commission to establish automatic adjustment mechanisms for water carriers to address inflation, regulatory lag, and other economic factors. These mechanisms can be initiated by the commission or proposed by the carrier. The bill also mandates that the commission establish a water carrier inflationary cost index automatic adjustment mechanism by July 1, 2026, which will be applied annually for the first two years and every three years thereafter.