This bill restricts how state-regulated electric utilities can use smart meter data collected from their customers. The law prohibits utilities from selling, licensing, or commercially using personal consumption data unless it serves authorized operational purposes like billing, grid reliability, outage management, or customer-approved demand response programs. Utilities must submit annual reports to the Federal Trade Commission detailing what data they collected and how they used it, and the FTC can enforce violations by requiring utilities to credit customers' bills three times the revenue gained from unauthorized data use. State attorneys general can also sue on behalf of residents to stop violations and recover damages, though they must notify the FTC before filing suit. The bill applies only to state-regulated utilities not wholly owned by U.S. persons and allows states to enact stronger privacy protections if they choose.