Substitute House Bill 2296 adds a new section to chapter 80.28 RCW authorizing the public utility commission specified in that chapter to allow electrical and natural gas companies to invest in energy conservation and end‑use efficiency measures for single‑family and multifamily rental housing instead of requiring a premises owner contribution for measures that are cost‑effective in the aggregate. The bill permits the commission to allow the utility to earn a return on those investments over a period designed to reduce customer energy burden, limit bill impact, and provide a return on equity to incentivize the company. The bill establishes prioritization for low‑income customers, vulnerable populations, and customers in highly impacted communities. The bill requires investments to be secured through the meter and recovered through regular billing paid by the tenant (including successor tenants) or by the owner under a site‑specific services agreement if the owner pays the bill. Recovery is treated like any other energy charge, subject to collection until the authorized return is fully recovered, and the investment must appear as a line item labeled "energy savings charge" on customer bills. Premises owners must receive sufficient information for tenant notification responsibilities, and must notify tenants at least 30 days before work begins, describing the work and expected benefits. Key terms such as "cost‑effective," "energy burden," "highly impacted community," "low‑income," and "vulnerable populations" are defined by cross reference to RCW 80.52.030 and RCW 19.405.020. The text supplied does not name the commission beyond the chapter reference, does not specify how the authorized return is calculated, approved, or limited, and lacks details on implementation procedures, eligibility criteria beyond the stated priorities, enforcement mechanisms for recovery from successor tenants, or an effective date. The House passed the bill March 11, 2026 (95‑1) and the Senate passed it March 6, 2026 (45‑3).

If enacted, utilities could pay to install cost‑effective energy conservation measures in single‑family and multifamily rental housing and recover those investments directly through a new bill line‑item called an "energy savings charge," with the company allowed to earn a return. The law pushes utilities to prioritize low‑income residents, vulnerable populations, and highly impacted communities, and requires owners to authorize installations and notify tenants at least 30 days before work starts; tenants (including successor tenants) or owners who pay utility bills would be responsible for the recovered charges and those charges would be subject to collection. The practical winners are utilities, which gain a new way to fund and earn on efficiency investments, and landlords, who may avoid upfront costs but take on coordination and notice duties. Tenants could see immediate new charges on their bills even though the measures aim to lower energy burden over time, creating a risk of added costs or collections for current and future occupants. Important implementation details are missing here—such as which specific commission will set rules, how the authorized return is calculated, how recovery from successor tenants is enforced, and when the program would start—so actual impacts will depend on those unresolved rules.