Requires retail electric utilities to notify consumers of planned rate increases at least 30 days in advance.
Notifications must include:
Percentage of the rate increase.
Detailed justification for the increase.
Explanation of the impact on average consumer bills.
Information on how consumers can provide feedback or file complaints.
Utilities must use multiple communication methods for notifications, including direct mail, email, website postings, and local media.
Establishes penalties for non-compliance, including civil penalties up to $10,000 and a prohibition on implementing the rate increase until notification is met.
Requires utilities to notify the Secretary of Energy of planned rate increases of 5% or more at least 60 days prior to implementation.
Notifications to the Secretary must include:
Percentage of the increase.
Comprehensive justification, including cost drivers and financial impact.
Assessment of potential impacts on consumers.
Proposed mitigation measures.
The Secretary of Energy must review the justification and publish findings within 30 days, including recommendations for adjustments and mitigation strategies.
The Secretary will monitor the impacts of implemented rate increases on the market and consumers.
