No Bonuses for Utility Executives Bill
Official: No Bonuses for Utility Executives Act
This bill aims to control how much money utility executives can earn in bonuses by tying it to customer rate increases. It ensures that if customers face higher bills, executives won't receive large bonuses.
1. This bill limits bonuses for executives of certain electric utilities. 2. Bonuses can only be paid if customer rates do not rise faster than inflation. 3. The maximum bonus cannot exceed 25 percent of the median pay of non-executive employees. 4. Utilities must report their customer rate increases and employee compensation to the Federal Energy Regulatory Commission. 5. If a utility violates this rule, the bonus is forfeited and distributed to customers.
Utility customers and employees of electric utilities.