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Hawai'i State Legislature

Ka 'Aha'ōlelo Moku'āina 'O Hawai'i

Measure Title: RELATING TO THE PUBLIC UTILITIES COMMISSION.
Report Title: PUC; Ratemaking; Performance-Based Incentives; Hawaii Ratepayer Protection Act of 2026
Description: Clarifies that, for electric utilities, "performance-based incentives" include revenue adjustment mechanisms, cost control mechanisms, rewards for superior performance, and penalties for subpar performance. Confirms that the Public Utilities Commission may adopt alternative ratemaking procedures to establish electric utility rates and performance-based incentives. Requires the Commission to apply a presumption in favor of considering historical cost trends and external indices that reflect incentives to control costs if the Commission resets an electric utility's allowed revenues based on consideration of the utility's costs. Effective 7/1/2050. (SD1)
Companion:  HB2244
Package: None
Current Referral: CPN/EIG, WAM
Introducer(s): KEOHOKALOLE, CHANG, FEVELLA, MCKELVEY, MORIWAKI, Hashimoto, San Buenaventura, Wakai
Act:

Sort by DateChamberStatus Text
2/27/2026SThe committee(s) on WAM will hold a public decision making on 03-03-26 10:17AM; Conference Room 211 & Videoconference.
2/13/2026SReport adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
2/13/2026SReport adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
2/13/2026SReported from CPN/EIG (Stand. Com. Rep. No. 2258) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
2/4/2026SThe committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 5 Aye(s): Senator(s) Keohokalole, Fukunaga, Lamosao, McKelvey, Awa; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
2/4/2026SThe committee(s) on EIG recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in EIG were as follows: 5 Aye(s): Senator(s) Wakai, Chang, DeCoite, Richards, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
1/30/2026SThe committee(s) on CPN/EIG has scheduled a public hearing on 02-04-26 9:30AM; Conference Room 229 & Videoconference.
1/28/2026SReferred to CPN/EIG, WAM.
1/22/2026SPassed First Reading.
1/22/2026SIntroduced.

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

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SB2487 SD1

All Versions of this Measure

SB2487_SD1 Link to SB2487_SD1 .PDF file
SB2487 Link to SB2487 .PDF file

Committee Reports

SB2487_SD1_SSCR2258_ Link to committee report SB2487_SD1_SSCR2258_ .PDF file

Testimony

SB2487_TESTIMONY_CPN-EIG_02-04-26_

Hearing Notices

CPN/EIG
2/04/26 9:30A
CR 229 & Videoconference
WAM
3/03/26 10:17A
CR 211 & Videoconference