Raised Bill No. 966 - Summary

• Changes Public Utilities Regulatory Authority discretion on revenue decoupling for gas and electric distribution companies in rate cases initiated on or after October 1, 2023, allowing the authority to determine the decoupling mechanism rather than requiring a specific approach.

• Prohibits public service companies from recovering through rates costs associated with: (1) attendance or participation in contested regulatory proceedings, (2) trade association memberships and dues, (3) lobbying and legislative action, and (4) advertising and marketing without specific authority approval.

• Establishes stakeholder compensation program allowing environmental justice communities and small business customers to receive funding (up to $200,000 per group, $600,000 total per proceeding) for participation in utility rate cases if participation substantially contributes to authority decisions.

• Restricts executive and parent company officer compensation recovery in rates, limiting annual increases to 5% and requiring bill credits equal to executive compensation when standard service rates increase more than 10% in a billing period.

• Appropriates $7 million total ($5 million for expanded regulatory operations and $2 million for emergency response investigation) to the Public Utilities Regulatory Authority through fiscal year 2024.