S.2660 - Federal Government - A bill to amend the Federal Power Act to ensure that the mission and functions of Regional Transmission Organizations and Independent System Operators include keeping energy costs as low as reasonably possible for consumers, and for other purposes.

Consumer Protection and Cost Accountability Act - Amends the Federal Power Act to require the Federal Energy Regulatory Commission (FERC) to consider whether a rate or charge made, demanded, or received by a Transmission Organization (TO) would enable the TO to provide or facilitate reliable service to consumers at the lowest reasonable cost.

Instructs FERC, in determining whether a TO filing to establish or change a rate or charge is consistent with specified requirements, to consider whether the rate or charge would: (1) provide consumer benefits that outweigh any anticipated costs to consumers as demonstrated by a cost-benefit analysis submitted by the TO; or (2) have only a de minimis impact upon the total delivered costs to the consumer.

Directs FERC to ensure that each TO is subject to biennial, independent audits.