Utah HB0224 amends electricity rate regulations, establishing an energy cost baseline and cost-sharing rules.

Utah HB0224 amends electricity rate regulations by setting an energy cost baseline for electrical corporations, to be determined by the Public Service Commission. The bill mandates that electrical corporations share 80% of variances between actual costs and the baseline with customers for costs incurred after January 1, 2026. For costs incurred before January 1, 2026, electrical corporations can recover 100% of prudently incurred costs. The bill also outlines procedures for establishing and managing energy balancing accounts, including interim rate requests and final orders.

Utah HB0224 amends electricity rate regulations, establishing an energy cost baseline and cost-sharing rules.

Utah HB0224 amends electricity rate regulations by setting an energy cost baseline for electrical corporations, to be determined by the Public Service Commission. The bill mandates that electrical corporations share 80% of variances between actual costs and the baseline with customers for costs incurred after January 1, 2026. For costs incurred before January 1, 2026, electrical corporations can recover 100% of prudently incurred costs. The bill also outlines procedures for establishing and managing energy balancing accounts, including interim rate requests and final orders.