Establishes performance-based rates for utility companies and caps electricity rate increases.

The bill amends Chapter 164 of the General Laws to establish performance-based rates for distribution, transmission, and gas companies in Massachusetts. It requires the Department of Public Utilities to set service quality standards, including customer satisfaction and public safety. The bill also mandates that the department hold public hearings on proposed rate increases and enforces an inflation cap on electricity rates, limiting increases to the annual growth rate of the Consumer Price Index.

Establishes performance-based rates for utility companies and caps electricity rate increases.

The bill amends Chapter 164 of the General Laws to establish performance-based rates for distribution, transmission, and gas companies in Massachusetts. It requires the Department of Public Utilities to set service quality standards, including customer satisfaction and public safety. The bill also mandates that the department hold public hearings on proposed rate increases and enforces an inflation cap on electricity rates, limiting increases to the annual growth rate of the Consumer Price Index.