HB 1002Electric utility affordability.

Latest change summary

+164 / −346 words · LargeConfidence: high

This version of HB 1002 represents a fundamental restructuring from consumer protection mandates to a more limited, emergency-focused framework. The bill eliminates previously proposed universal budget billing requirements for all residential customers and removes extensive service disconnection protections during extreme heat warnings. It replaces these broad mandates with narrower provisions: levelized billing only for low-income customers eligible for home energy assistance (effective after June 30, 2026), penalty-free opt-out mechanisms, and payment flexibility options. The legislation strips out performance incentive mechanisms that would have financially rewarded or penalized utilities for service restoration performance (including elimination of up to 0.50 basis point ROE adjustments). New emergency provisions grant the commission authority to alter utility rates during disasters of unprecedented size, subject to gubernatorial disaster declarations and general assembly oversight on subsequent renewals. The bill also adds general regulatory principles emphasizing cost minimization, management efficiency, and review of whether commission jurisdiction remains necessary in light of competitive forces.