HB4300 Summary

• Amends the Public Utilities Act to expand alternative rate program authority to all public utilities, removing the previous limitation to only electric or gas utilities.

• Authorizes the Illinois Commerce Commission to approve alternative rate programs including earnings sharing, rate moratoria, price caps, flexible rate options, or performance-based rate adjustments upon petition by any public utility.

• Requires the Commission to approve programs only if they result in lower rates than traditional rate-of-return regulation, provide substantial customer benefits, maintain service reliability, and do not adversely affect utility finances or competitive markets.

• Mandates Commission review of approved programs 2 years after implementation to ensure objectives are met, and requires annual reporting and equitable benefit-sharing provisions between utilities and customers.

• Takes effect immediately upon becoming law.