Modifies provisions relating to utilities

HB 154 changes how utility companies (gas, water, and sewer corporations) set new rates. It allows these companies to request a "future test year" starting July 1, 2026, for rate cases, meaning they base rates on projected costs for the next 12 months instead of current costs. If actual costs at year-end are lower than projected, companies must return the difference to customers through automatic refunds. The bill also prohibits companies from recovering costs of new investments made during the test year period. This directly affects utility companies and their customers by altering rate-setting timelines and creating a refund mechanism for cost savings.