Bill > HB914

This bill modifies Hawaii's Water Carrier Act by providing the Public Utilities Commission with new powers to establish automatic rate adjustment mechanisms for water carriers (transportation companies that move passengers or cargo by water). Specifically, the bill requires the commission to create an automatic adjustment mechanism by January 1, 2026 that ties rate changes to the annual percentage change in the Gross Domestic Product Price Index, with annual adjustments capped at plus or minus five percent. The bill introduces a new definition for "automatic adjustment mechanism" as any rate adjustment mechanism that allows a water carrier to change rates between formal rate case proceedings. Additionally, the bill grants the commission broad discretion to waive or exempt water carriers from existing requirements if they determine such requirements are unjust or unreasonable. The bill also modifies existing rules about how water carriers can file tariffs (price schedules) and make rate changes, making the process more flexible by allowing faster implementation of certain rate adjustments. The provisions are designed to help water carriers more quickly and easily adjust their rates to account for inflationary costs and regulatory changes.