Know Your Rates Act

This bill, titled the "Know Your Rates Act," amends the Public Utility Regulatory Policies Act of 1978 to establish new federal standards for how electric and gas utilities provide consumption information to their customers. The primary goal is to enhance transparency and empower consumers to better understand and manage their energy usage and costs. These new requirements apply specifically to "covered" utilities , defined as those receiving federal funding. For both electric and gas utilities, the bill mandates that each billing statement must include the difference in dollar amount charged compared to the previous billing period. It also requires the inclusion of the average monthly consumption in both dollars and the relevant unit ( kilowatt-hours for electricity, therms for gas). Furthermore, utilities must implement a program to send proactive usage notices to consumers. These usage notices will alert consumers if their average daily consumption significantly exceeds that of the previous billing period, specifically on the 10th or 20th day of the current billing cycle. Consumers will also be given the option to choose an alternative notification date. Additionally, the bill requires utilities to offer an optional notification service, allowing consumers to receive an alert when their energy usage reaches a specific dollar amount they have pre-selected within an active billing period.