NH SB597

Prohibits the Public Utilities Commission from approving electric utility rate increases exceeding 4 percent above the previous year's rate after adjusting for inflation

Requires the commission to open an investigative proceeding within one year to evaluate performance incentive mechanisms that tie utility revenues to achievement on metrics including affordability, reliability, customer satisfaction, and grid modernization

Directs the commission to evaluate whether transitioning to TOTEX (total expenditures) ratemaking is in the public interest, which would allow return on equity for both capital and operating expenditures rather than just capital investments

Mandates multi-year rate plans of up to 5 years incorporating performance incentives, with utilities required to submit new plans at least one year before current plans expire

Takes effect 60 days after passage and is titled the "Lower Energy Prices Act," citing that New Hampshire has the eighth highest utility bills in the country and a July 2025 ruling raised monthly residential customer charges by 43 percent