This bill aims to protect residents of multi-unit dwellings from excessive meter-reading fees charged by electric and gas public utilities. Specifically, it prohibits these utilities from imposing a meter-reading fee that exceeds the total cost of the customer's electricity or gas usage for the billing cycle. The bill defines a "meter-reading fee" as a charge for customers who have opted out of smart meter installation, which is intended to cover the costs associated with manual meter readings.

The legislation emphasizes that, regardless of any existing laws or regulations, the specified limitations on meter-reading fees will apply to residential customers in multi-unit dwellings. This measure is designed to ensure fair billing practices and prevent utility companies from overcharging customers for services related to manual meter readings. The bill is set to take effect immediately upon enactment.