The purpose of this legislation, known as the Protecting Our Wallets from Excessive Rates Act or the POWER Act, is to ensure that retail electric utilities inform consumers about any planned rate increases in a timely and transparent manner. The goal is to protect consumers from unexpected hikes in their electric bills and to provide them with the necessary information to understand the reasons behind these increases. Key provisions of the Act require retail electric utilities to notify consumers at least 30 days before implementing any rate increase.