Informing the Legislature that on June 5, 2026, the Governor signed the following bill into law: SB2487 SD1 HD1 CD1 (ACT 093).

This bill, known as the Hawaii Ratepayer Protection Act of 2026, directs the Public Utilities Commission to maintain the state's performance-based regulation model for electric utilities rather than reverting to a traditional cost-of-service system. The law reinforces the requirement that utility revenues must be tied to performance metrics such as reliability, renewable energy progress, and customer service, instead of being based on the utility's investment levels or projected costs. By codifying these rules, the legislation ensures that the state continues to prioritize customer savings and efficiency over rewarding utilities for increased capital expenditures. The measure directly affects Hawaii's electric utility companies and the ratepayers who pay their bills, aiming to prevent a return to a regulatory framework that could lead to higher costs for consumers.