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 regarding any rate increases on their websites and in customer communications, including the amount, effective date, reasons for the increase, and anticipated impacts on bills. If a utility fails to comply with these requirements, the Board of Public Utilities is authorized to 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. This 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 affected ratepayers for six months following a significant rate increase.