A bill to provide for the review of increases promulgated by the Secretary of the Interior on November 1, 1973, in rates for electric power sold at five Bureau of Reclamation projects.

Directs the Secretary of the Interior, within 30 days after enactment of this Act, to transmit to the Federal Power Commission the rate schedules promulgated by him on November 1, 1973 for each of five Bureau of Reclamation projects (Central Valley, Colorado River storage, Parker-Davis, eastern and western divisions of the Pick-Sloan Missouri River Basin, and Rio Grande), and all pertinent documents, letters, memoranda, and other materials.

Requires the Commission, with the assistance of the Comptroller General, to promptly conduct a thorough review of the promulgated schedules and the criteria and procedures followed by the Secretary in developing such schedules for the purpose of determining their reasonableness and adequacy and their consistency with applicable requirements of law and regulations.

Provides that, upon completion of such review, the Commission shall issue a decision as to each project, approving the schedules or recommending modifications to the Secretary.

States that each such decision shall be made on the record after an opportunity for public hearing pursuant to the Federal Power Act.

Requires the Secretary to promptly publish proposed regulations providing for opportunity for an adequate public hearing and written decision on the record concerning any electric power rate increase hereinafter proposed by the Secretary.