This bill restricts executive bonuses at regulated electric utilities starting January 1, 2027. Executives of covered utilities can receive bonuses only if customer rates do not increase faster than inflation as measured by the Consumer Price Index, and any bonus cannot exceed 25 percent of the median salary of non-executive employees. The Federal Energy Regulatory Commission must review utility data within 30 days of each fiscal year to determine if bonuses are permitted and must monitor compliance when bonuses are paid. If utilities pay bonuses improperly, make false statements, or fail to report payments, the forfeited bonuses are collected as civil penalties and returned to customers through payments issued by the Treasury Department. The prohibition on utilities recovering penalty costs through customer rates is intended to prevent companies from passing expenses back to ratepayers.
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