The bill authorizes large-scale industrial power users in Wyoming to procure electricity from any person or utility, bypassing certain regulatory requirements typically associated with public utilities. It defines "large-scale industrial power user" as an electric customer with an annual demand of at least one megawatt hour and outlines specific conditions under which these users can obtain electricity. Notably, the bill exempts these transactions from rate regulation and service territory requirements, allowing for greater flexibility in sourcing electricity. Additionally, it stipulates that the electricity must be consumed on-site and solely for commercial or industrial purposes, and it prohibits resale to other customers.

To facilitate this new procurement process, the bill amends existing laws to clarify that the standard requirements for public utilities, such as obtaining a certificate of convenience and necessity, do not apply to those providing electricity to large-scale industrial power users. It also mandates that the public service commission create necessary rules for implementation. The act is set to take effect on July 1, 2025, with certain provisions becoming effective immediately upon the bill's passage.