This bill establishes a prohibition on public utilities from filing requests for rate increases during specific circumstances. The Board of Public Utilities (board) will not consider or approve such requests if it has directed the utility to file a base rate case to assess whether it has exceeded its authorized rate of return, or if the utility has been notified of an ongoing investigation into the same issue. This prohibition remains in effect until the board concludes the base rate case or investigation.

Additionally, the bill amends existing legal language regarding the board's authority over rate schedules and increases. It clarifies that the board may require public utilities to submit complete schedules of rates and charges, and it outlines the process for fixing just and reasonable rates. The amendments also specify that the board must complete hearings and issue final orders within set timeframes, ensuring timely resolution of rate-related matters. Overall, the bill aims to enhance regulatory oversight and protect consumers from unjust rate increases during critical evaluations of utility performance.