(1) As used in this section, unless the context otherwise requires, 'heat pump' means an electrically powered device that uses the refrigeration cycle to transfer thermal energy from one location to another.(2) On or before August 1, 2027, an investor-owned utility that provides electric or thermal energy shall, within a general rate case request, submit to the commission a proposal for a voluntary rate or rates for energy supplied to residential customers who utilize a heat pump as their primary heating source, which voluntary rate or rates: (a) May be new rates, new or existing riders, or incorporated into an existing time-of-use rate;(b) If cost-justified, are designed to lower the average monthly energy bill of residential customers who utilize a heat pump as their primary heating source; and(c) Avoid cross-subsidies from other customers.Added by 2024 Ch. 191,§ 23, eff. 5/17/2024.