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SC H5328

Bill

Official Source

Status

Introduced

3/5/2026

Primary Sponsor

Joe White

Click for details

Origin

House of Representatives

126th General Assembly

AI Summary

  • Requires public utilities providing natural gas distribution service to residential customers to establish and maintain a natural gas price reserve fund
  • Reserve funds may be collected through per-therm surcharges during non-emergency periods, excess margins from favorable pricing years, and revenues from natural gas capacity releases
  • Funds can only be used to offset extraordinary gas costs (wholesale costs exceeding historical seasonal averages) and may be spread across multiple billing cycles to reduce rate shock
  • Prohibits recovering reserve costs from residential customers in a single billing cycle unless funds are insufficient and the Public Service Commission provides written findings justifying immediate recovery
  • Mandates annual reporting to the Public Service Commission on fund utilization, fund balance, and impact on residential customer rates

Legislative Description

Natural Gas Price Reserve

Last Action

Referred to Committee on Labor, Commerce and Industry

3/5/2026

Committee Referrals

Labor, Commerce and Industry3/5/2026

Full Bill Text

No bill text available