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119-hr-10804119th CongressWALLET

Utility Accountability Act

Sponsored By: Representative Riley, Josh [D-NY-19]

Introduced

Summary

Would penalize investor-owned electric utilities when they miss state reliability and safety targets. The bill would require failing utilities to give escalating per-customer bill credits and lets the Secretary of Energy push states to enforce those penalties by withholding federal assistance if needed.

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  • Families and residential customers: would receive an annual bill credit that starts at $100 the first year and increases by $100 each subsequent year until the utility meets state performance standards. Credits may not be charged back to customers.
  • Investors in investor-owned utilities: would be charged by the utility to cover the cost of those credits, shifting the financial burden to utility investors rather than ratepayers.
  • State regulatory authorities: would have to audit and certify each investor-owned utility's compliance with state performance standards each year. If a state regulator fails to direct credits after a certification of noncompliance, the Secretary of Energy could withhold federal grants, loans, loan guarantees, and technical assistance.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Annual bill credits for households

If enacted, the bill would require investor-owned electric utilities to give each residential customer an annual bill credit when a state regulator certifies the utility failed to meet state performance standards. Credits would start the next year at $100 per customer and rise by $100 each year until the utility meets the standards. Utilities could not pass the cost to residential customers; the utility would charge its investors for the credits. State performance standards include electric reliability and safety.

State audits and federal withholding power

If enacted, each State regulatory authority that audits investor-owned utilities would have to certify yearly to the Secretary of Energy whether each utility met state performance standards. The bill would adopt the Public Utility Regulatory Policies Act definitions for "ratemaking authority" and "State regulatory authority." If a State regulator fails to follow a Secretary order under the bill, the Secretary could withhold federal assistance to that regulator, including grants, loans, loan guarantees, and technical help, until it complies. The standards include electric reliability and safety.

Sponsors & CoSponsors

Sponsor

Riley, Josh [D-NY-19]

NY • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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