This bill establishes a temporary prohibition on any increases in rates or charges by gas and electric public utilities, effective until December 31, 2030. It amends several sections of the Iowa Code to include new paragraphs that explicitly prohibit public utilities from implementing new or changed rates, charges, schedules, or regulations that would result in increased costs for customers. This prohibition applies to all public utilities, including smaller gas or electric public utilities, electric cooperative corporations, associations, and municipally owned utilities.

Additionally, the bill modifies existing provisions regarding automatic and temporary rate adjustments, ensuring that no adjustments can lead to increased rates for customers during the moratorium period. The Iowa Utilities Commission is tasked with overseeing compliance with this rate freeze. The bill is deemed of immediate importance and takes effect upon enactment.

Statutes affected:
Introduced: 476.1A, 476.6, 476.33