Requires legislative approval of increases in utility charges

This bill, the "utility ratepayer protection act," requires utilities (like electricity and gas companies) to get explicit approval from both legislative houses before raising customer rates. Utilities must submit a detailed report 180 days in advance, including justification for the increase and their current financial status. The legislature can reject proposed rate hikes they deem unnecessary to cover service costs, preventing increases from taking effect without a majority vote in both chambers. This directly affects utility companies and their customers by adding legislative oversight to rate changes.