To require electric utilities to notify electric consumers of the cost of emission allowances associated with the electricity delivered to such consumers, and for other purposes.

Requires the Administrator of the Environmental Protection Agency (EPA), in implementing a greenhouse gas (GHG) regulatory program that provides for the sale of emission allowances in connection with an absolute limit on GHG emissions, to publish on a monthly basis the average cost per kilowatt hour of the emission allowances purchased by each person generating electricity for sale. Requires the Administrator to include in such publication an allocation of such costs, based on the generation sources, among the regions in which electric power is purchased and sold at wholesale.

Amends the Public Utility Regulatory Policies Act of 1978 to require each electric utility, within two years, to include in each billing statement transmitted to each electric consumer a statement of the portion of the rate charged to that consumer that represents the cost of emission allowances purchased by the utility for the period covered by such billing statement. Requires a utility that purchases electric energy in a region for which the Administrator has published the average cost per kilowatt hour of emission allowances to include the appropriate portion of such costs in each such billing statement.