This bill mandates the Board of Public Utilities (BPU) to conduct a review of the electric rates and revenues of electric public utilities that utilize smart meters for billing. The review will involve a comparative analysis of the rates and revenue collected before and after the installation of smart meters by each utility. The bill defines key terms such as "Board," "Electric public utility," and "Smart meter," ensuring clarity in the scope of the review.

Furthermore, the BPU is required to submit a written report summarizing its findings to the Governor and the Legislature within six months of the bill's enactment. The act will take effect immediately and will expire upon the submission of this report. This initiative aims to provide transparency and accountability regarding the impact of smart meter technology on electric utility rates and revenues.