Net Neutrality Simplified (if that is possible, given the impending appeals and litigation):

“The first major ruling is that ISPs now fall under the category of telecommunications services (as opposed to information services), so they are bound by the regulations of Title II of the Telecommunications Act of 1934, which provides the FCC the authority to regulate them as a public utility.”

“The second major part of the ruling is the development of so-called bright-line rules, which directly affect a consumer’s ability to access content over the Internet. ”

But in a nutshell, the following three “Nos” become effective today.  Whether or not consumers and/or providers will benefit remains to be seen.  But my suggestion is to follow the money.

“- No Blocking: ISPs cannot block access to legal content

– No Throttling: ISPs cannot throttle (slow down) delivery of legal content.

– No Paid Prioritization: ISPs cannot charge content providers for priority service to deliver content to consumers.”

Source: Net Neutrality Goes Into Effect: What Consumers Should Expect

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Thanks to Forbes