Two senators are wading into the energy affordability messaging wars, unveiling legislation Wednesday that would hold utility executives accountable when consumers’ electricity bills spike.
The No Bonuses for Utility Executives Act, S. 5353, from Sens. Richard Blumenthal (D-Conn.) and Josh Hawley (R-Mo.), would prohibit state-regulated utilities from giving their C-suite leaders a bonus in years when electricity rates increase faster than inflation.
Utilities would have to run bonuses by the Federal Energy Regulatory Commission or risk financial penalties. Those forfeitures would be redistributed to customers in the form of a rebate.
The proposal is the latest attempt by members of Congress to rein in utility prices, which are rising due to the proliferation of data centers, extreme weather events and overdue updates to the electric grid, among other factors. While many of the bills making their way through Congress take aim at data center operators, this one puts a target on utilities.
