Signed by Governor Neil Abercrombie

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that authorizes the regulation of an undersea power cable, effective July 1, 2012.

Highlights:

• Requires a cable company to be approved by the public utilities commission prior to beginning commercial operation of an undersea power cable (Sec. 2).

• Authorizes an electric utility company to establish an automatic rate adjustment clause if the company’s capital expenditure costs, including revenue requirements, are approved by the public utilities commission (Sec. 2).

• Specifies that revenue requirements include, but are not limited to, the following (Sec. 2):
• A commission-approved rate of return on the electric utility company's net investment in on-island transmission infrastructure;
• Depreciation; and
• Revenue taxes and other commission approved costs.

Full Bill Text