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Relating to the regulation of utilities and to the continuation of the Public Utility Commission of Texas and to its powers and duties, administration, staff, and funding; relating to the qualifications, powers and duties, and activities of the commission members and employees and personnel during and after the term of service or employment; prohibiting employment of former commission employees under certain circumstances; establishing the Office of Public Utility Counsel and prescribing its powers and duties; providing for a public utility counsel or counsellor and prescribing his or her qualifications, powers, and duties; requiring audits; requiring certain reports and forecasts by utilities and the commission; providing rules and considerations for approval of building new facilities and for fixing or regulating rates to be allowed or changed by utilities; providing for hearings; relating to ratemaking procedures by municipalities and appeals; providing for judicial review of proceedings of the utility commission; adding special policy and provisions as to the authority and power of the commission over telecommunications utilities; reenacting the Public Utility Regulatory Act, as amended; removing the railroad commission and regulation of gas utilities from the coverage of the Act.