This bill aims to protect ratepayers from electric public utility rate increases specifically related to the installation of smart meters. It prohibits any such rate increases after the bill's enactment and mandates that electric public utilities publish detailed information about any rate increases on their websites and in customer communications. This information must include the amount and effective date of the increase, the reasons behind it, the anticipated impact on bills, and how ratepayers can provide feedback or file complaints. If a utility fails to comply, the Board of Public Utilities can impose fines of up to $10,000.

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 public communication. Furthermore, utilities must provide annual reports on service interruptions and overdue bills. Importantly, the bill also prohibits utilities from disconnecting service or charging late fees to ratepayers affected by significant rate increases for six months following such increases.