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 provide 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, reasons for it, anticipated impacts on bills, and how ratepayers can provide feedback or file complaints. The Board of Public Utilities is empowered 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 effective date. 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 disconnection of service or late fees for affected ratepayers for six months following a significant rate increase.