Ratepayer Protection Act

Ratepayer Protection Act - Declares that no electric utility shall be required to enter into a new contract or obligation to purchase or sell electric energy or capacity pursuant to the Public Utility Regulatory Policies Act of 1978 governing cogeneration and small power production.

Directs the Federal Energy Regulatory Commission to promulgate and enforce regulations to assure that no utility shall be required to absorb the costs associated with electric energy or capacity purchases from a qualifying facility executed before this Act's enactment date, and governed by such provisions (thus assuring such utilities recovery of all costs associated with such purchases). Provides that such regulations shall be treated as a rule enforceable under the Federal Power Act.