Know Your Rates Act

HR 1412, the Know Your Rates Act, requires federal-funded electric and gas utilities to provide consumers with clearer billing information. It mandates that bills include the dollar difference from the previous period, average monthly usage in plain terms (kWh for electricity, therms for gas), and automatic notifications if daily usage exceeds the prior period’s average (on day 10 or 20 of the billing cycle). Consumers also gain the option to set custom spending alerts during their billing period. This bill directly affects residential and commercial customers of federally funded utilities, aiming to improve transparency about energy costs and consumption patterns. The changes apply only to utilities receiving federal funding, as defined by the Commission.