The General Assembly Raised Bill No. 7088 requires the Public Utilities Regulatory Authority (PURA) to conduct a study on alternative energy delivery methods, including direct-bill remote energy generation and municipal or regional energy aggregation, with a report due by July 1, 2026. The bill mandates PURA to create a capital investment funding mechanism to ensure timely recovery of necessary investments for the electric grid's safe and reliable operation, including criteria for annual recovery and a defined standard of review for investment prudency. Additionally, it increases the frequency of rate adjustment proceedings, requiring certain rate components to be reconciled every six months instead of annually.

The bill also introduces new legal language, including the concept of "resilience" for electric distribution companies and a performance-based regulation framework that aligns utility performance with public interest objectives. It mandates PURA to evaluate service termination policies, focusing on protections for customers with serious medical conditions, and to investigate innovative rate plans to stabilize electric bills. The bill repeals outdated provisions and incorporates new sections effective October 1, 2025, aiming to enhance consumer protections and improve the regulatory framework for vulnerable populations.

Statutes affected:
Raised Bill: 16-244aa