INDIANAPOLIS (WISH) — A bill to establish performance-based ratemaking in Indiana cleared its first hurdle Tuesday after gaining unanimous approval from a House committee.

The bill would require utilities to meet certain performance metrics, including reliability and affordability, before they would be allowed to raise rates. It also establishes three-year rate plans for utilities, a measure bill author Rep. Alaina Shonkweiler, R-Noblesville, said is intended to stabilize utility bills. The committee added language on Tuesday that clarifies utilities have to file all of the same discl...