This bill establishes a new category of electric providers called consumer-regulated electric utilities (CREUs) , which must be created after the bill's enactment to exclusively serve new electric loads. A defining characteristic of CREUs is that they must be physically islanded from all regulated utilities, the bulk-power system, and the Bulk Electric System, operating independently with their own generation, storage, transmission, distribution, and retail supply facilities. The legislation's primary goal is to exempt these isolated CREUs from extensive federal oversight. This includes broad exemptions from the Federal Power Act , covering rate regulation, corporate oversight, transmission rules, and reliability standards, meaning CREUs would not be considered public utilities under the Act. They would also be exempt from regulations under the jurisdiction of the Federal Energy Regulatory Commission (FERC) and the Department of Energy (DOE) , including all reliability standards and other federal requirements. Further exemptions are provided from the Public Utility Regulatory Policies Act of 1978 (PURPA) , freeing CREUs from obligations to interconnect or transact with other electric utilities, and the Public Utility Holding Company Act of 2005 (PUHCA) for holding companies. Crucially, these federal exemptions are contingent on a CREU remaining physically isolated; if it connects to the broader electric grid, it immediately loses its CREU status and becomes subject to all applicable federal regulations. Additionally, the bill permits CREUs to construct and operate facilities within public rights-of-way, adhering to similar permitting and safety requirements as public utilities, but with a streamlined review process focused solely on right-of-way restoration and storm-response planning.