This bill aims to protect ratepayers from electric public utility rate increases associated with the installation of smart meters. Specifically, it prohibits any electric public utility from raising rates for this purpose after the bill's enactment. Additionally, it mandates that utilities provide detailed information about any rate increases, including the amount, effective date, reasons, anticipated impacts on bills, and avenues for customer feedback, both on their websites and in customer communications. If a utility fails to comply with these requirements, the Board of Public Utilities can impose fines of up to $10,000.

Furthermore, the bill requires electric public utilities to report to the federal Department of Energy any anticipated rate increases that would result in an average increase of five percent or more in ratepayer bills, at least 60 days prior to the increase. This report must include similar details as those required for customer communications. The bill also stipulates that utilities must provide annual reports on service interruptions and overdue bills. Importantly, it prohibits utilities from disconnecting service or charging late fees to affected ratepayers for six months following a significant rate increase.