The Ethics in Energy Act of 2023 directs the Federal Energy Regulatory Commission to prohibit large electric utilities and natural gas companies from charging ratepayers for their political influence activities. These prohibited expenses include lobbying, campaign contributions, advertising to influence public opinion, dues to trade associations, and employees' salaries spent on political activities. The bill applies to major utilities defined by specific thresholds, such as electric companies with over one million megawatt-hours in annual sales. The FERC must create new accounting rules within 18 months and require utilities to submit detailed annual reports listing all political spending and related expenses. The law includes enforcement penalties ranging from one to three times the amount of improperly charged expenses, with half going to ratepayer rebates and half funding the FERC's enforcement efforts.