The bill amends Sections 39-3-24 and 39-3-25 of the General Laws in Chapter 39-3, which pertains to the regulatory powers of public utilities. Key changes include the replacement of the term "division" with "commission" throughout the sections, indicating a shift in authority for approving transactions between utilities. The bill introduces new provisions that require public utilities to obtain consent and approval from the commission for various transactions, including mergers, sales, and leases. It also specifies that any such transactions must be authorized by a two-thirds vote of stockholders and outlines the rights of dissenting stockholders.

Additionally, the bill enhances the approval process by mandating public hearings and allowing for intervention by citizens, businesses, or other groups interested in advocating for public interest elements. The definition of public interest is broadened to include factors such as rates, competitive market access, environmental protection, and other relevant interests. Furthermore, any orders issued by the commission under this section are subject to appellate review, ensuring a mechanism for oversight and accountability. The act is set to take effect upon passage.