The bill introduces a new section to chapter 80.28 RCW, allowing electrical and natural gas companies to invest in energy conservation programs specifically targeting single-family and multifamily rental housing. This investment can be made without requiring a financial contribution from property owners, focusing instead on reducing the energy burden for low-income customers, vulnerable populations, and those in highly impacted communities. The companies are permitted to earn a return on these cost-effective investments over time, ensuring that the impact on customer bills is minimized while still incentivizing the companies to participate.

Additionally, the bill mandates that any investments made under this section be secured through the meter and recovered through regular billing, designated as an "energy savings charge." Property owners must be informed about the conservation measures being installed, and tenants must be notified at least 30 days prior to the commencement of work. The bill also includes definitions for terms such as "cost-effective," "energy burden," "highly impacted community," "low-income," and "vulnerable populations," which align with existing definitions in other RCW sections.

Statutes affected:
Original bill: 64.38.055