Washington State Chooses PBR

Washington governor Jay Inslee signed Bill 5295 on 3 May 2021 transforming the regulation of gas and electric utilities toward multiyear rate plans (“MRPs”) and performance-based rate making. Utilities will be required to file MRPs with each general rate case. These plans will include performance metrics, entail benefits for low income customers, and be aligned with each utility’s clean energy implementation plan. The Washington Utilities and Transportation Commission will conduct a proceeding to develop a PBR policy statement.