Effective July 1, 2025, provides that, the profit margin of any electric distribution company or gas distribution company, would not exceed 4%, in any calendar year and defines a "profit margin" as the return on equity that is allowed by the commission.
Establishes thermal energy networks network infrastructure by any public utility company that provides electric/natural gas distribution to maximize cost-effective investments deemed in the public interest by the public utilities commission (PUC).
Amends several provisions relative the powers and duties of the PUC and requires the submission by utilities of integrated distribution system plans identifying solutions to reduce greenhouse gases.
Provides that any rate increase with respect to electric distribution companies would be no greater than the increase in the Consumer Price Index or f5.5%, whichever is greater, unless there is approval of a higher rate by the general assembly.
Requires an electric distribution company to develop and act pursuant to a vegetation management plan approved by the DPUC to carry out vegetation management activities on and around utility infrastructure along public and private rights of way.
Requires an electric distribution company to develop and act pursuant to a vegetation management plan approved by the DPUC to carry out vegetation management activities on and around utility infrastructure along public and private rights of way.
Requires the office of energy resources to initiate the process of developing programs and associated funding mechanisms, for electric energy storage resources connected to the electric distribution system.
Changes utility company billing practices so that when a gas electric utility changes their customer billing, they would be required to file a copy of the new bill with the PUC for approval, with a complete explanation of the changes.