SB 487 - The act creates "The Electrical Choice and Competition Law." Provisions of the act shall govern the sale of electricity in the state and any provision of law that conflicts with the act shall be null and void. Under the act, an electric utility shall provide equal and open access to electric supply over the electric utility's transmission and distribution systems to allow retail electric suppliers to sell electricity directly to retail customers in the state. Twenty-four months after August 28, 2025, the Public Service Commission shall permit commercial and industrial customers of electric utilities to choose a retail electric supplier, as defined in the act. Pursuant to the time frame provided for in the act, the Commission shall permit residential customers to choose a retail electric supplier. The ability of energy assistance residential customers to retain access to all financial assistance benefits shall not be affected by the provisions of the act. Each electric utility shall submit to the Commission a restructuring plan to assist retail customers to choose a retail electric supplier. The plan shall be submitted pursuant to a schedule established by the Commission, as described in the act. Specifics of the plan are described in the act. The Commission shall review each restructuring plan and issue an order accepting, modifying, or rejecting the plan, as described in the act. Electric utilities shall unbundle the electric rates consistent with the provisions of the act. After the implementation of the unbundling process, the Commission shall regulate the manufacture, sale, and distribution of electricity pursuant to the provisions of the act. Electric utilities shall be able to recover transition costs pursuant to the time frame and divestiture process under the act. The Commission shall approve the recovery and time periods over which the stranded costs are to be collected by the competitive transition charge as described in the act. Electric utilities shall divest their generation assets pursuant to the specifics described in the act and with the approval of the Commission. Electric utilities shall provide default supply service to retail customers who do not choose a retail electric supplier as described in the act. Allocation of direct and indirect costs incurred for the provision of the default supply service is described in the act. The Commission may establish a separate process for electric supply service for energy assistance customers. The process shall include a grouping of energy assistance customers into an aggregation program. Specifics of the aggregation program are described in the act. If an energy assistance customer chooses to opt-out of the aggregation program, the customer shall no longer be eligible for any energy assistance relief. All electric utilities shall provide open and nondiscriminatory access to their data and systems to retail electric suppliers. Retail electric suppliers shall obtain customer consent prior to receiving certain customer data. The Commission shall develop a process to obtain customer consent for the release of the customer data as described in the act. Retail customers shall be able to select their preferred billing method, as described in the act. Electric utilities shall implement an accelerated switching process where residential customers may change retail electric suppliers as described in the act. Certain customers moving within a service area shall continue receiving electric service from the same retail electric supplier without being required to switch to a different retail electric supplier. Six months after August 28, 2025, the Commission shall develop a customer education program to ensure all retail customers have access to accurate information about their ability to choose a retail electric supplier. Specifics of the program are described in the act. The Commission shall establish the "Office of Retail Market Development and Oversight" to be funded by an annual assessment of retail electric suppliers based on a formula developed by the Commission but not to exceed $20,000 annually per retail supplier license. The authority and responsibilities of the Office are described in the act. No person or company shall supply electric service in the state without obtaining a retail electric supplier license from the Commission. The Commission shall develop a licensing process as described in the act. The Commission shall monitor the retail power market for the supply and distribution of electricity to retail customers to ensure retail electric suppliers are not engaged in anti-competitive or discriminatory practices. If the Commission finds that a retail electric supplier engaged in anti-competitive or discriminatory practices, the Commission shall ask the Attorney General to file a civil action. If the court finds that a violation occurred, the court may impose civil penalties, damages, and other relief described in the act. Any proceedings initiated under this provision shall be subject to the provisions relating to procedures before the Commission and provisions relating to the Office of the Public Counsel. Provisions under the act that are applicable to proceedings involving electric utilities shall also apply to retail electric suppliers. This act is similar to HB 417 (2025). JULIA SHEVELEVA