As used in this chapter, "multi-year rate plan" means a ratemaking mechanism under which the commission sets an electricity supplier's base rates for a three (3) year period that includes:

1. (1) authorized periodic changes in the electricity supplier's base rates; and

2. (2) adjustments to the electricity supplier's base rates based on the electricity supplier's performance with respect to each performance incentive mechanism applicable to the electricity supplier;

   during the three (3) year period, without requiring the electricity supplier to file a new base rate case with respect to the changes and adjustments.

As added by P.L.36-2026, SEC.10.