Assembly Bill 867 mandates the Public Service Commission to create a program that allows public utilities to finance energy improvements for residential customers. Under this program, utilities can recover the costs associated with these improvements by applying a surcharge to the customer's account over time. This initiative aims to facilitate energy efficiency upgrades in homes, making them more accessible to residents.

The bill also grants the Public Service Commission the authority to establish rules necessary for the implementation of this financing program. This structured approach is intended to ensure that the program operates effectively and meets the needs of both the utilities and the customers benefiting from energy improvements.