This bill aims to protect ratepayers from certain electric public utility rate increases, specifically prohibiting any increases intended to recover the costs associated with installing smart meters. It mandates that electric public utilities must publish detailed information about any rate increases on their websites and in customer communications 30 days before and after the increase takes effect. This information must include the amount and effective date of the increase, the reasons behind it, the anticipated impact on bills, and how customers can provide feedback or file complaints. The Board of Public Utilities is authorized to impose fines of up to $10,000 for violations of these requirements.

Additionally, 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. The report must include similar details as those required for customer communications. Furthermore, utilities must provide annual reports on service interruptions and overdue bills. Importantly, the bill prohibits utilities from disconnecting service or charging late fees to customers affected by significant rate increases for six months following such increases.