The proposed Bill No. 647 aims to enhance consumer access to affordable electricity by implementing several key changes to current law. It seeks to eliminate the "Combined Public Benefits Charge" from electric bills for end-use customers of electric distribution companies. Additionally, the bill prohibits the Commissioner of Energy and Environmental Protection and electric distribution companies from entering into power purchase agreements that exceed 150% of the wholesale price of electricity. It also redefines "Class I renewable energy source" to include electricity generated from hydropower and nuclear facilities, and separates the Public Utilities Regulatory Authority from the Department of Energy and Environmental Protection.

Furthermore, the bill proposes to eliminate any incentive programs that increase electric demand, such as electric vehicle rebate programs, and mandates a study on methods to increase the supply of natural gas in the state. These changes are intended to reduce energy costs and improve energy supply for consumers.