Bill > SB1043

This bill, titled the "Energy Pricing Protection Act," aims to prevent businesses from charging excessively high prices for essential energy products and services like gasoline, propane, or home heating oil during times of market disruption, which are defined as unusual conditions like severe weather, supply shortages, or emergencies. An "excessively increased price" is generally considered a price increase of more than 20% unless the seller can prove it's due to increased costs or a prior significant discount. The act grants the Attorney General the power to investigate potential violations by demanding testimony and documents, and to file lawsuits to recover damages for consumers, potentially in the form of class actions, or to seek civil penalties of up to $500,000 per violation for businesses and $10,000 for individuals, with criminal penalties also possible for intentional violations. The remedies provided by this act are in addition to any other existing legal protections, such as those under the Michigan Consumer Protection Act.