The bill amends Chapter 39-1 of the General Laws by adding a new section titled "Comprehensive study." It requires the Public Utilities Commission (PUC), in conjunction with the Division of Public Utilities and Carriers (DPUC), to produce a comprehensive study for the General Assembly by April 30, 2026. This study will be transmitted to the governor, speaker of the house, and the senate president.

The purpose of the study is to ascertain the best ways to lower all energy rates for consumers, including electric and gas. It will include an investigation of energy rates in other states to identify practices that contribute to lower rates compared to those in Rhode Island. Additionally, the study will require the PUC and DPUC to perform a comprehensive review of all energy programs in Rhode Island that add to the cost of energy, identifying which programs, if terminated, could reduce energy rates.

The bill allocates $100,000 for hiring consultants and experts to assist in the research. The PUC and DPUC are tasked with formulating a research plan to conduct the study and make recommendations for legislative changes that would affect energy costs. The recommendations will include an energy note similar to fiscal notes, which will clearly show the positive or negative effects of legislation on energy costs. The study will also empower the PUC and DPUC to explore any other areas pertinent to the goal of lowering ratepayer energy costs. The act is set to take effect upon passage.