The proposed "Thermal Energy Network and Jobs Act" introduces a new chapter in Title 39 of the General Laws of Rhode Island, focusing on the study and implementation of thermal energy networks. The act aims to contribute to greenhouse gas reduction and just-transition requirements while potentially offering reduced operating costs and decreased costs of future expansion. It requires public utilities to conduct feasibility studies for these networks, identifying no fewer than two and no more than twelve potential locations within twelve months of the act's effective date, with at least one location benefiting an environmental justice focus area. The criteria for evaluating these locations include greenhouse gas emissions reductions, cost-effectiveness, and the degree to which the project benefits communities experiencing disproportionate environmental or public health burdens.

The bill allows utilities to recover all costs reasonably incurred while complying with the act, encouraging them to seek non-ratepayer funding sources to offset these costs. It establishes a twelve-member thermal energy network task force, appointed by the Public Utilities Commission (PUC), to evaluate the results of feasibility studies and pilot projects, provide periodic updates, and advise on the deployment of thermal energy networks. The PUC is tasked with adopting rules and regulations within eighteen months to implement the act, including creating fair market access rules, criteria for cost-effectiveness, and equitable rules for cost recovery.

The act aligns with the state's climate goals and promotes workforce transition in the energy sector. It includes a severability clause to ensure that if any provision is found invalid, the remaining provisions will still be enforceable. The act is set to take effect upon passage.