This bill amends the existing regulations governing transactions between public utilities in Rhode Island by transferring the approval authority from the division to the public utilities commission. It establishes that public utilities must obtain consent and approval from the commission for transactions, including mergers, sales, and leases of assets. The bill requires that a petition be filed with the commission, detailing the purpose and terms of the transaction.

The bill enhances public participation in the approval process by mandating public hearings and allowing any citizen, business, or group to intervene and advocate for elements of the public interest. It specifies that the public interest includes, but is not limited to, considerations related to rates, competitive access to markets, environmental protection, and other relevant interests. Additionally, any orders issued by the commission under this section are subject to appellate review, ensuring oversight and accountability in the regulatory process. The act will take effect upon passage.