This bill establishes a new regulatory framework for large-energy-use retail electricity facilities by creating Chapter 374-I in the existing law. It defines "large-energy-use facility" as one that can utilize 20 megawatts or more at peak demand, primarily engaged in services like computer processing and data centers. The public utilities commission is tasked with developing a separate classification for these facilities, which will have its own tariff schedule that allocates costs proportionally to their actual service costs. The bill aims to mitigate the risk of other retail electricity customers bearing unwarranted costs due to the operations of large-energy-use facilities.

Additionally, the bill outlines specific requirements for contracts between electric utilities and large-energy-use facilities, including a minimum contract term of ten years and provisions to prevent cost-shifting to other ratepayers. The commission is also required to review proposed tariff schedules to ensure they do not increase costs for other customers and to report on load and capacity trends every odd-numbered year. The act will take effect upon its passage, ensuring that the regulatory framework is in place to manage the unique needs and impacts of large-energy-use facilities on the electricity grid and other consumers.