Provides for a two percent cap on rate increases imposed by utilities

This bill caps annual rate increases for utility services by gas and electric corporations, as well as municipalities providing such services, at 2%. It directly affects utility providers by prohibiting them from raising rates beyond this limit without department review. Key provisions require rate proposals exceeding the cap to undergo review by the Department of Public Service, with final rate plans subject to a 2% maximum. The law aims to limit annual cost increases for consumers while establishing a formal process for rate adjustments.