HI SB2809

Amends Section 269-16, Hawaii Revised Statutes, to change utility ratemaking language from "actually used or useful" to "used and useful" for public utility purposes.

Amends Section 269-134, Hawaii Revised Statutes, to allow high-voltage electric transmission cable systems to be deemed "used and useful" upon commencing commercial operations, subject to Public Utilities Commission approval.

Aligns statutory language with widely accepted utility ratemaking principles and practices already applied in Hawaii regarding fair return on utility property.

Applies prospectively so existing judicial and regulatory decisions are considered in accordance with the Act, with specific application of the "used and useful" standard left to the Public Utilities Commission's discretion.

Effective upon approval.