This bill mandates that public utilities must notify customers in their service area by direct mail when a rate settlement agreement is reached that would result in increased rates, tolls, charges, or schedules. The notification must occur prior to the final decision by the Board of Public Utilities (BPU) and must include a detailed explanation and justification for the proposed settlement.

The bill aims to enhance transparency and communication between public utilities and their customers, ensuring that affected individuals are informed about potential rate changes before they are finalized. This requirement is intended to provide customers with the necessary information to understand the implications of the rate settlement agreements.