A bill to prohibit fuel adjustment clauses in utility rate schedules.

Requires that all utility rate schedules approved by regulatory authorities prescribe rates which have been established subject to prior public notice and full evidentiary hearing by the appropriate regulatory authority, including opportunity for cross-examination, presentation of direct and rebuttal evidence, and judicial review of written decisions by the regulatory authority.

Prohibits the sale of natural gas or electric energy except in accordance with a fixed rate schedule approved by a regulatory authority in accordance with prescribed procedures.

Establishes procedures for judicial review of violations of the provisions of this Act by a regulatory authority in the appropriate State or Federal court.