This bill aims to protect residential customers from rate increases imposed by electric and gas public utilities during peak usage seasons. Specifically, it prohibits any electric public utility rate increases for residential customers from June 1 to August 31, and any gas public utility rate increases from January 1 to March 31. The intent behind this legislation is to alleviate the financial burden on consumers during periods of high demand for electricity and gas, which often leads to increased utility costs.

The bill highlights the recent trend where the Board of Public Utilities has authorized rate increases just before these peak seasons, resulting in significant financial strain for consumers. By enacting this legislation, the sponsors hope to encourage the Board to consider the timing of rate increases and work towards stabilizing energy bills for residential ratepayers. The bill is set to take effect immediately upon passage.