Electric Consumers Protection Act of 1983

Electric Consumers Protection Act of 1983 - Amends the Federal Power Act to require the Federal Energy Regulatory Commission to issue a new license to an existing licensee for a hydroelectric project authorized under such Act if the United States does not, upon the expiration of the existing license, exercise its right to take over, maintain, and operate such licensee's project, unless the Commission determines that such licensee's project will not meet the licensing standards under such Act. Provides that if the Commission determines that such licensee's project does not meet such standards, the Commission is authorized to issue a new license to a new licensee which may cover the existing licensee's project provided that the new licensee pays just compensation determined by the Commission and enters into any contracts required under the Federal Power Act. (Under current law, the Commission is authorized to issue a new license to the original licensee or a new license to a new licensee if the United States does not exercise its rights with respect to an expired license.)