Electric utilities would plan to use existing power grids better

The Public Service Commission would set standards for measuring and reporting how utilities use their power grids. The standards would cover regulated electric utilities’ power delivery systems, including electricity delivered, unused capacity, and equipment reliability. Reporting rules would have to protect electric system security, including through confidentiality safeguards. The commission would have to establish the measures by April 1, 2028.

Regulated electric utilities would submit plans for meeting grid improvement targets set by the commission. Plans would aim to lower average electricity prices while accounting for reliable service and growing demand. Plans would need meaningful opportunities for different customer groups to participate. The commission would approve, reject, or revise each plan within 120 days and review implementation annually. The commission would set up its review by October 1, 2028. Utility plans would be due by April 1, 2029, and every three years afterward.

The commission would allow reasonable approved plan costs to be recovered and set financial rewards for utilities. Rewards would cover cost-effective improvements inside and outside approved plans. Customers would have to receive most benefits from improvements. If improvements let utilities serve added demand below existing built-in costs, regulators would split the associated revenue between utility rewards and customer rate cuts.