The bill amends Chapter 39-1 of the General Laws regarding the Public Utilities Commission (PUC) by introducing a new section, 39-1-64. This section mandates the PUC, in conjunction with the Division of Public Utilities and Carriers (DPUC), to produce a comprehensive study for the General Assembly by April 30, 2027. The study is to be transmitted to the governor, the 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. The study will also require 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 and making recommendations for legislative changes that could affect energy costs. Furthermore, the bill emphasizes the need for transparency in energy pricing by suggesting that any legislation impacting energy costs should include an energy note, similar to fiscal notes, to clearly show the potential positive or negative effects on energy costs. The act will take effect upon passage.