Requires legislative approval of any utility rate or charge increase approved by the public service commission; provides that the legislature can approve, modify or rescind any rate or charge increase approved by the commission by concurrent resolution; provides that the legislature can review any rate or charge increase approved in the prior 12 months.
Relates to prohibiting the public service commission from approving a rate increase which allows a utility to recover its direct or indirect costs in excess of one hundred thousand dollars associated with its attendance in, participation in, preparation for, or appeal of any rate proceeding conducted before the commission, or compensation for management employees in excess of the current salary of the governor of the state unless proof of necessity is provided.
Requires utility service providers to disclose planned rate increases to consumers within thirty days before a planned price increase takes effect; requires utility providers to provide contact information and a mechanism to cancel service completely.
Requires that any proposed capital expenditure to be considered in any matter affecting a major change in rates must be described by the utility and shall include the purpose, cost, and benefits to the ratepayers and shall be posted on the PSC website.
Authorizes and directs the public service commission to establish rules to limit a utility's ability to recover its direct or indirect costs associated with its attendance in, participation in, preparation for, or appeal of any rate proceeding conducted before the commission.