Relating to public utilities; and declaring an emergency.

Directs the Public Utility Commission to consider the cumulative economic impact of an electric or natural gas company's proposed residential rate or schedule of rates. Requires an electric or natural gas company to file an analysis of the cumulative economic impact on the company's residential rate payers if the company's return on equity is subject to review and modification. Authorizes the commission to adjust rates to mitigate an increase in residential customer rates if the increase would affect the ability of customers to maintain adequate utility services. Prohibits any increase in residential rates from taking effect from November 1 to March 31. Directs the commission to require an electric or natural gas company to establish a multiyear rate plan for certain rate revisions. Prohibits, until January 2, 2027, or the date the commission adopts rules regarding multiyear rate plans, certain rate increases from taking effect within 18 months from the date of the last rate increase. Authorizes a public utility, upon approval by the commission, to issue bonds and securitize debt for costs and expenses incurred or to be incurred by the public utility associated with certain capital investments, retiring a generation asset, environmental remediation or an event in which the availability of electricity or natural gas within a regional energy market is significantly constrained. Requires an electric or natural gas company to provide and make public a visual representation of cost categories included in the company's residential customer rates and a report on any rate adjustments the company expects within the next 12 months. Declares an emergency, effective on passage.