HI HB759

Prohibits electric utility companies from owning or operating both electricity production facilities and electricity delivery/transmission infrastructure (effective January 1, 2025).

Requires electric utilities to acquire all electricity through power purchase agreements and prohibits these agreements with affiliated entities (effective January 1, 2025).

Mandates electric utilities prioritize purchasing lowest-cost, nonfossil fuel-generated electricity before acquiring fossil fuel-based electricity, with priority placed on geothermal energy development.

Requires the Public Utilities Commission to establish statewide electricity rates for multiple electric utility companies held by the same financial holding company, based on fixed connection charges, variable transmission/distribution rates, and variable consumption rates.

Exempts cooperatives qualifying under Internal Revenue Code section 501(c)(12) from these requirements; takes effect January 1, 2015 (with key structural provisions effective January 1, 2025).