HI HB914

Authorizes the Public Utilities Commission to establish automatic adjustment mechanisms for water carriers no later than January 1, 2026, to address inflation and regulatory lag.

Creates a water carrier inflationary cost index automatic adjustment mechanism tied to the annual percent change in the Index as reported by the Bureau of Economic Analysis, applied annually and capped at plus or minus 5 percent per year.

Defines "automatic adjustment mechanism" as any rate adjustment mechanism allowing a water carrier to change rates between rate cases.

Allows water carriers to submit requests to establish automatic adjustment mechanisms as 45-day tariff filings that do not constitute rate increase applications, with the Commission granted broad discretion in their application.

Grants the Public Utilities Commission authority to waive or exempt water carriers from any requirements under Chapter 271G upon determination that such requirements are unjust, unreasonable, or not in the public interest.