HI SB366

Establishes the Hawaii Ratepayer Protection Act to align electric utility business models with customer interests and Hawaii's energy policy goals.

Requires the Public Utilities Commission to establish performance incentive and penalty mechanisms by January 1, 2020 that directly tie electric utility revenues to utility achievement on performance metrics.

Mandates that performance metrics include: renewable portfolio standards compliance, rate affordability, service reliability, customer satisfaction and options, renewable energy integration, and competitive procurement execution.

Applies established performance incentives and penalties to all regulation of utility rates under Hawaii Revised Statutes Section 269-16.

Takes effect on July 1, 2017.