Bill > HB978

This bill expands the authority of Hawaii's Public Utilities Commission (PUC) to appoint a receiver for investor-owned electric utilities that are failing to provide adequate service or pose a serious threat to public health and welfare. Currently, the PUC can appoint a receiver for water and sewer utilities, but this bill extends that power to electric utilities. The receiver would have broad powers to manage the utility's assets, access its records, spend existing revenues, and commit additional resources to restore acceptable service levels. The bill recognizes that recent events have threatened the financial stability of Hawaii's largest electric utility, particularly noting its undercapitalization of wildfire mitigation and infrastructure upgrades. The goal of such a receivership is not to permanently take over the utility, but to protect the company, ensure continued service, maintain employee compensation, and help the utility return to profitability. Any costs incurred during the receivership would be the responsibility of the utility or its ratepayers, and the receiver would maintain control until the utility can be returned to its original owners, transferred to new owners, or liquidated, depending on what the PUC determines is in the public interest. The bill is intended to proactively protect customers and ensure reliable electric service during times of utility crisis.

Agriculture and Natural Resources, Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=978&year=2025