Utility Regulatory Improvement Act - Declares it to be the finding of Congress that the increasing complexity of regulatory decisions has severely overburdened State utility commissions and has prevented consumers from participating in the regulatory proceedings of such commissions. Declares it to be the purpose of this Act to assist such State commissions in the performance of their duties. Defines terms used in this Act. Establishes within the Federal Energy Administration an Office of State Regulatory Assistance. Authorizes the Director of the Office: (1) to provide financial assistance to State regulatory commissions to improve staffing of such commissions; (2) to provide financial assistance to States to provide for the establishment of offices of consumer services to assist consumers in their presentations before State regulatory commissions; (3) to provide financial assistance to encourage State regulatory commissions to develop innovative rate structures; and (4) to provide technical assistance, including audit, management, and financial management assistance. Authorizes appropriations for each fiscal year through fiscal year 1980 for the assistance provided under this Act.