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Senate Advances Rate‑adjustment Mechanism for Water Carriers with Sunset, PUC Guardrails
Summary
The Senate's joint Commerce and Transportation committees passed SB 2694 to authorize PUC automatic rate adjustments for water carriers, capping annual changes and requiring full rate reviews every three years; lawmakers added a seven‑year sunset and defected the effective date to July 1, 2050.
The Senate joint committees on Commerce and Consumer Protection and Transportation advanced SB 2694 on Feb. 18, approving an automatic adjustment mechanism for water carrier rates that supporters say will provide predictability while preserving periodic full reviews.
Young Brothers and other maritime stakeholders supported the bill as a modernization to a decades‑old regulatory framework. David Veltri, associate general counsel for Young Brothers, described the mechanism as a…
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