RI S2427

Creates a new utility rate classification for "large energy use facilities" defined as data centers and similar businesses (cloud storage, application hosting, data processing) using 20 megawatts or more of electricity

Requires the Public Utilities Commission to establish separate tariffs and rate schedules that allocate or directly assign costs of serving these large facilities to prevent cost-shifting to other ratepayers

Mandates electric companies enter into contracts of at least 10 years with large energy use facilities, requiring minimum payment obligations based on projected electricity usage

Directs the Commission to evaluate whether proposed rates for this class could increase costs for other customers, impede state clean energy targets under the 2021 Act on Climate, or create unwarranted risks to grid reliability

Requires biennial reports to the governor and General Assembly starting September 1, 2028, reviewing trends in load requirements from large electricity consumers and potential legislative recommendations