HI SR18

Requests the Public Utilities Commission to establish a stranded cost recovery mechanism for electric utilities retiring fossil fuel power plants early to transition to renewable energy sources.

Identifies that utilities face financial difficulties when retiring fossil fuel plants without a plan to recover investments, as plant shutdown costs cannot be recouped.

Notes that fossil fuel plants have low efficiency (30-40 percent), release harmful emissions including greenhouse gases, and rely on non-renewable resources with rising costs.

Recognizes that utilities historically received monopoly status in exchange for obligations to serve customers and amortize long-term investments, justifying a cost recovery mechanism.

Requires transmission of a certified copy of the resolution to the Public Utilities Commission.