An Act relative to fair and stable utility pricing

This bill aims to regulate utility rates in Massachusetts by limiting how much electricity prices can rise and introducing performance standards for utility companies. It caps annual electricity rate increases at the rate of inflation measured by the Consumer Price Index starting in March 2024, ensuring that rate hikes do not outpace general price growth. Additionally, the bill requires electric companies to provide 60 days of public notice before implementing any rate changes and mandates that the state department hold public hearings to review and potentially suspend proposed increases. The legislation also authorizes the department to create performance-based rates that tie utility compensation to service quality metrics, such as outage frequency, customer satisfaction, and maintenance standards, while excluding marketing and charitable spending from rate calculations.