This bill introduces new regulations regarding non-wire alternatives (NWAs), time-of-use pricing, and multi-year rate settings for electric distribution utilities. It defines key terms such as "non-wires alternative," which refers to grid investments that can defer the need for new construction, and "time-of-use pricing," which adjusts electricity rates based on demand. The bill mandates that utilities include cost-effective NWAs in their integrated distribution planning and requires the Department of Energy and the Public Utilities Commission to establish rules for competitive procurement of NWAs. Additionally, it stipulates that utilities must offer fair time-of-use tariffs to all customer classes and provide advanced metering infrastructure (AMI) smart meters upon request.

Furthermore, the bill modifies the rate-setting process for state electric default service customers, extending the period between rate cases from two years to five years. It allows for interim rate adjustments in response to unforeseen cost changes and requires that any cost savings realized during this period be shared equitably between utilities and ratepayers. The bill also includes a provision that the Department of Energy and the Public Utilities Commission will set rate cases in accordance with RSA 378:7, ensuring that rates are established every five years. The fiscal impact of these changes is indeterminable, as the transition to AMI metering systems will require significant investment, and the overall effect on county and local government expenditures is also uncertain.