Lowering Utility Bills Act

This bill would require federal regulators (the Federal Energy Regulatory Commission) to set the allowed profit rate, called return on equity, for electric transmission providers at the lowest point of a range built from three averages of expected stock market returns, unless the provider shows clear and convincing evidence that a higher rate is needed. Investor-owned electric and gas utilities would have to use the same kind of calculation and the lowest value, with downward adjustments for factors that reduce their risk; states could still request other rate schedules if the utility publicly explains the difference. Transmission providers and investor-owned utilities could not charge customers for costs such as lobbying, political contributions, trade group dues, executive travel and aircraft, gifts, investor relations, fines, and rate case expenses. The bill would also repeal a section of the Federal Power Act that provides transmission rate incentives and would require regulations within 120 days.

Full text and official record on Congress.gov

Sponsors

• Greg Casar Democrat sponsor
• 27 cosponsors