Senate panel advances electric rate‑stabilization plan after wide debate over consumer safeguards

The Senate Judiciary subcommittee voted to advance S.446, a bill that would create an electric rate‑stabilization mechanism allowing utilities to true up authorized returns more frequently than under a traditional rate case. The panel approved a motion to move the bill toward full committee by voice vote after extended testimony and questioning.

The measure would allow utilities that elect into the mechanism to recover certain costs on an annual schedule tied to an established return‑on‑equity band, with a mandatory full rate proceeding every five years to reset broader parameters such as depreciation and cost‑of‑capital assumptions. Proponents said the change reduces regulatory lag and smooths smaller annual adjustments; critics said the approach risks shifting more development and construction risk onto residential and small business customers unless tighter guardrails are added.

Key testimony and debate

Andrew Bateman, executive director of the…