SECTION 1. The department of public utilities shall, in consultation with the distribution companies, conduct a process to investigate establishing and refining standards that expand the use of distributed grid edge software on advanced meter infrastructure meters already approved by the department, which supports efficiency, load flexibility and distribution system intelligence to improve system utilization, reduce costs and improve reliability to customers. Standards shall include, but shall not be limited to, methods for increasing capacity for managing loads and resources in the grid by electric utilities and third parties. The distribution companies shall design at least 1 metric for improved monitoring and controlling the grid using high-resolution data in utility meters that will allow such distribution companies to earn an incentive for positive performance. The department of public utilities shall complete its investigation and submit a report detailing its conclusions to the joint committee on telecommunications, utilities and energy not later than December 31, 2025.