Stop Unfair Electricity Prices Act
Sponsored By: Representative Stevens, Haley M. [D-MI-11]
Introduced
Summary
Would limit federal aid to investor-owned electric utilities that raise residential rates above their January 1, 2026 levels. The bill stages that limit with a 1-year moratorium, then a 2-year conditional period that ties any allowed rate increase to caps and cuts in the pay of the utility's five highest compensated employees.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Limits federal aid to utilities
If enacted, the bill would restrict federal financial help to State-regulated, investor-owned electric utilities that raise residential rates above the rate they charged on January 1, 2026. For the first year after enactment, the Secretary of Energy could not provide assistance to any such utility, and any aid would be ended if the utility charged residents more than its Jan 1, 2026 rate. For the next two years, a utility that charges above the Jan 1, 2026 rate could get aid only if it (1) does not pay its five highest‑paid employees more than they were paid on Jan 1, 2026, (2) at the time of a rate increase reduces those five employees' total pay by an amount equal to twice the percentage‑point increase in the residential rate, and (3) files a report showing the five employees' pay on Jan 1, 2026 and after the cut. The bill defines total compensation to include salary, bonuses, stock awards, stock options, and other financial pay. These rules would take effect on the date of enactment and expire three years later.
Sponsors & CoSponsors
Sponsor
Stevens, Haley M. [D-MI-11]
MI • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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