The bill aims to establish federal standards concerning large-load customers' electric service rates and upgrades. It requires recovery of full upgrade costs from large-load customers. Additionally, large-load customers must provide financial assurances for upgrades. The bill defines large-load customers as non-residential electric consumers needing power primarily for information technology infrastructure, having a peak demand of 100 megawatts or more. The bill mandates state regulatory authorities and nonregulated utilities to consider and determine the standards set for large-load customers within specific time frames. It further addresses prior state actions regarding these standards. Additionally, it affects prior and pending proceedings relating to these standards.