The "South Carolina Electric Retail Choice Act" aims to enhance consumer choice in the electricity market by allowing residential and small commercial customers to select their electric generation suppliers starting January 1, 2028. The bill establishes a framework for competitive electric generation services, requiring suppliers to obtain a license from the South Carolina Public Service Commission (PSC) and adhere to regulations regarding financial security, consumer protection, and clear disclosure of rates and terms. Additionally, the PSC is tasked with creating a customer complaint resolution process and ensuring that electric distribution companies provide nondiscriminatory access to their services.

The legislation also mandates that incumbent electrical utilities continue to offer regulated distribution and default generation services for customers who do not choose a supplier. It includes provisions for the PSC to approve nonbypassable charges to recover stranded costs and public policy program expenses, while ensuring ongoing funding for low-income assistance and energy efficiency programs. The PSC is required to promulgate initial regulations within eighteen months of the act's approval, covering supplier licensing, consumer protection, and billing protocols.