This bill aims to protect ratepayers from electric public utility rate increases specifically related to the installation of smart meters. 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. The Board of Public Utilities is empowered to impose fines of up to $10,000 for non-compliance with these requirements.

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. Utilities must also submit annual reports detailing trends in service interruptions and overdue bills. Importantly, the bill prohibits utilities from disconnecting service or charging late fees to affected ratepayers for six months following a significant rate increase.