Sponsored By: Representative Rep. Stevens, Haley M. [D-MI-11]
Introduced
Would block federal aid to investor-owned electric utilities that raise residential electricity rates above their January 1, 2026 levels. It ties any future Department of Energy help to limits on the top five executives' pay and to a short moratorium then a restricted period on assistance.
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1 provisions identified: 0 benefits, 0 costs, 1 mixed.
If enacted, for 1 year after enactment the Secretary of Energy would not give financial assistance to state‑regulated investor‑owned electric utilities that, after enactment, charge residential customers a rate higher than on January 1, 2026. If the Secretary gives assistance during that year and later finds the utility raised rates above the January 1, 2026 level, the Secretary would stop the assistance. After that 1-year moratorium, for 2 years the Secretary would not give assistance to such utilities unless they meet three tests. The utility must not pay its five highest‑paid employees more than they received on January 1, 2026. If a utility raises residential rates above the January 1, 2026 level during the 2-year period, it must cut total pay for those five employees by twice the percentage‑point increase. The utility must also submit a report showing the five employees' total pay on January 1, 2026 and after the required reduction. The Secretary would end assistance if a utility violated these pay or rate rules. For these rules, "total compensation" would include salary, bonuses, stock awards, stock options, and other financial pay.
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Rep. Stevens, Haley M. [D-MI-11]
MI • D
There are no cosponsors for this bill.
No roll call votes available for this bill.
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