Provides that effective July 1, 2025, the profit margin of any electric distribution company gas distribution company, would not exceed four percent (4%), in any given calendar year.
Effective July 1, 2025, provides that, the profit margin of any electric distribution company or gas distribution company, would not exceed 4%, in any calendar year and defines a "profit margin" as the return on equity that is allowed by the commission.
Impose requirements and actions that certain electric distribution and gas distribution companies must meet prior to implementing rate changes.
Impose requirements and actions that certain electric distribution and gas distribution companies must meet prior to implementing rate changes.
Establishes thermal energy networks network infrastructure by any public utility company that provides electric/natural gas distribution to maximize cost-effective investments deemed in the public interest by the public utilities commission (PUC).
Provides that any rate increase with respect to electric distribution companies would be no greater than the increase in the Consumer Price Index or 5.5%, whichever is greater, unless there is approval of a higher rate by the general assembly.
Mandates state and electric distribution companies develop proposals and encourage off shore wind power development and give priority in those projects to providing employment and business opportunities to workers from disadvantaged communities.
Mandates state and electric distribution companies develop proposals and encourage off shore wind power development and give priority in those projects to providing employment and business opportunities to workers from disadvantaged communities.
Requires a natural gas and electric utility company to read the meters of all ratepayers on a quarterly basis. The utility would be required to provide a formula, used to create estimated bills, to the PUC in order to send estimated bills.
Repeals the gross earnings tax on electric and gas companies.