S.B. 2939 - Hawaii Ratepayer Protection Act

• Requires the Public Utilities Commission to establish performance incentive and penalty mechanisms by January 1, 2020 that tie electric utility revenues directly to achievement of performance metrics rather than investment levels.

• Performance reviews must consider rate volatility and affordability, service reliability, customer satisfaction, access to system and energy use data, rapid renewable energy integration, and competitive procurement execution.

• Breaks the existing regulatory model that allows utilities to increase profits by increasing capital expenditures, regardless of performance.

• Exempts member-owned cooperative electric utilities from these requirements.

• Effective July 1, 2018.