This legislation establishes new notification requirements for retail electric utilities planning rate increases. Utilities must provide electric consumers with at least 30 days' notice before implementing any rate increase, detailing the percentage, justification, and impact on an average consumer's bill, along with feedback options. Notifications must be distributed through multiple channels, such as direct mail, email, official websites, and local media, with non-compliant utilities facing civil penalties up to $10,000 and being barred from implementing the increase until requirements are met. For planned rate increases of 5 percent or more, retail electric utilities must also notify the Secretary of Energy at least 60 days in advance. This notification requires a comprehensive justification, including cost drivers, financial impact, and an assessment of potential consumer effects. The Department of Energy will then review this information and publish a report within 30 days, which includes an assessment of impacts and recommendations for adjustments, mitigation measures like phasing in price increases or financial aid, and suggestions for improving utility efficiency. The Secretary is also tasked with monitoring the market and consumer impacts after such rate increases are implemented to evaluate their effects and determine if further action is needed.