Bill > SB597

This bill aims to address high utility costs in New Hampshire by implementing several key regulatory changes. It restricts electric utility rate increases to no more than 4 percent above the previous year's rate after adjusting for inflation, and directs the Public Utilities Commission (PUC) to develop performance incentive mechanisms for utilities. The bill requires the PUC to launch an investigative proceeding within one year to evaluate performance metrics that could tie utility revenues to achievements in areas such as grid modernization, rate affordability, service reliability, distributed energy resource integration, and customer satisfaction. The legislation also introduces the concept of TOTEX (total expenditures) ratemaking, which would allow the PUC to consider both capital and operating expenditures when determining utility rates, potentially providing more flexibility in how utilities are compensated. The bill includes provisions for multi-year rate plans of up to 5 years, with the ability to adjust revenue, address unexpected costs, and implement service quality remedies. Notably, the bill's motivation stems from New Hampshire having the eighth-highest utility bills in the country and a recent PUC ruling that raised monthly residential customer charges by 43 percent, with the overall goal of providing economic relief to consumers by creating more efficient and accountable utility regulation.

Agriculture and Natural Resources

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1437&inflect=2