This bill restricts the Department of Energy's ability to provide financial assistance to for-profit electric utilities if they raise residential electricity rates above their January 1, 2026 baseline levels. For the first year after enactment, utilities that receive federal funds are completely prohibited from raising rates to residential customers; if they do so, the government must cancel their assistance. In the following two years, utilities can raise rates only if their five highest-paid executives accept compensation cuts equal to twice the percentage of any rate increase, and they must document these reductions to the Energy Secretary. The bill applies only to regulated investor-owned electric utilities operating within states that oversee utility rates, not municipal or cooperative utilities. By conditioning federal support on rate restraint and executive pay reductions, the legislation aims to protect consumers from electricity rate increases while holding utility leadership accountable when federal assistance is provided.
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