HI SB1500

Authorizes the Public Utilities Commission (PUC) to appoint a receiver for regulated investor-owned electric utilities that are failing or threatening to fail in providing adequate and reasonable service to customers.

Receiver appointment is authorized when the PUC finds the utility failure or threat creates a serious and imminent danger to health, safety, and welfare, or when a utility consistently fails to provide adequate service after notice and hearing.

Appointed receiver gains full authority to access utility assets and records, manage operations, expend existing revenues for labor and materials, and commit additional resources necessary to restore or maintain acceptable service levels.

Requires the receiver to recognize and maintain all existing collective bargaining agreements and prohibits reducing workforce or terminating covered employees except for cause consistent with applicable labor agreements.

Costs incurred by the PUC, its staff, or the appointed receiver are the responsibility of the utility in receivership or its ratepayers; receivership continues until the utility is returned to original owners, transferred to new owners, or liquidated as the PUC determines to be in the public interest.