Massachusetts S2238 aims to prevent excessive utility rate hikes by limiting allowed returns on equity for electric and gas companies.

Massachusetts S2238 introduces a measure to safeguard consumers from unreasonable utility rate increases by restricting the allowed return on equity for electric and gas companies. The bill amends Chapter 164 of the General Laws to ensure that the Department of Public Utilities cannot approve an allowed return on equity higher than the average of neighboring states over the past four years. This restriction can only be waived if it would violate the constitutional rights of the utility company.

Massachusetts S2238 aims to prevent excessive utility rate hikes by limiting allowed returns on equity for electric and gas companies.

Massachusetts S2238 introduces a measure to safeguard consumers from unreasonable utility rate increases by restricting the allowed return on equity for electric and gas companies. The bill amends Chapter 164 of the General Laws to ensure that the Department of Public Utilities cannot approve an allowed return on equity higher than the average of neighboring states over the past four years. This restriction can only be waived if it would violate the constitutional rights of the utility company.